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What documents Im missing to account for EXPENSES ON THIS APARTME
Hello Bigger Pockets family,
I am looking to purchase my biggest deal yet!
24 unit apartment. I never looked into a deal this size. So making sure, I nail it, I wanted to reach out to the community to see what data I should request to make sure I come up with my NOI to properly calculate my CAP RATE...
This to request:
Income
+Rent Roll
+Leases ( When under contract)
+Tenant Estoppel Form (While under contract)
Expenses
(They sent me Profit andd Loss Statement) I asked for an expense report but they manage there on properties and Im questioning the expense report they sent.....
+I do not see expenses for garbage, lawn care so this raised more questions.
What they do have is maintenance , repairs and taxes.
For example, is asking for a Schedule E tax return to much to request ( to make sure I am accounting for all expenses.)
The properties are fairly newer built 2005 so i dont expect for Repairs to be as much as well...
Any information wouldd be helpful