Things to think about when walking a 47 unit property

[Austin James]

What are some good things to be looking for and thinking about for a prospective buyer who is walking the grounds of a 47 unit building?

I have a pretty good idea, just hoped to snag a tip from a more experienced operator that may save me a headache.

[Gino Barbaro]

@Austin James

From what you're describing, it is not a c property. It is lower. I would check the median income of the area.

It is a function of price and return on effort. Is it worth buying the property, doing all the work, taking all the risk for the deal to stay at a C level.

I don't believe that expenses on the property are only 2,600 per unit. That NOI is definitely much lower.

Hope that helps

Gino