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4
Posts
2
Votes
Darrell Boazman
Pro Member
  • Property Manager
  • Augusta Ga
2
Votes |
4
Posts

What documents Im missing to account for EXPENSES ON THIS APARTME

Darrell Boazman
Pro Member
  • Property Manager
  • Augusta Ga
Posted

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

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