Updated about 7 years ago on . Most recent reply
6 unit Multi Family (No expenses from seller?)
I am looking at an out of state 6 unit multi family unit. The seller (Realtor) tells me there are no previous record of expenses to evaluate. The landlord (potentially me) is responsible for gas, water, sewer and common area electric. How can I evaluate income potential without previous records? Boiler and water heaters are gas. I am calling BS on this. The owner must have gas and electric and water and sewer records? Any advice. Unit is in Ohio, Thanks
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It seems the utility cost are high so the seller is trying to cover up actual cost. This could be reason for the sale. I would dig deeper.