30 unit apartment building

6 Replies

Hello bigger pockets people just got word on a 30 unit apartment building that the owner has passed away and the person I heard from works for the city I live in.  He said that the grounds are being uncared for and he needs to bring a dumpster there once a week.  Not sure how the proceed to get info on property.  Went to the city website and got the tax info on the property and shows that its behind on summer/winter 2014 and summer tax 2015.  Who can I contact to help me with the due diligence on the property just to get educated on how the purchase the a property of this size?

Thanks

David Yuhaz

find out who owns it.

Find someone who knows the family.

Have them ask what their plans are. 

Then you will know if you can proceed to think about buying it. If so, then proceed to evaluate your options.

A building that big should have a super. Go and talk to him and find out who is paying him and how you can contact them.

Let's think this through, David.

People have lost their behinds over a single SFR because they got in without knowing how to tell their head from their rear. You are talking about 30 doors, and judging by your questions, you wouldn't be able able to find your butt from your head even if I draw a 1:1 scale map for you..lol

These are dangerous times, David. Suckers get had in times like these. Don't be one of them - study! Take your time. DD is all on you - there is no one to call. It's all on you, David! This is REI, not amateur hour...there'll be other deals, and you'll be more ready. For now - just study :)

Originally posted by @George Hermann :

A building that big should have a super. Go and talk to him and find out who is paying him and how you can contact them.

thank you.  doing a little more digging read the city info wrong, its only 14 units.  Should I go talk to the tenants then?

Originally posted by @Ben Leybovich :

Let's think this through, David.

People have lost their behinds over a single SFR because they got in without knowing how to tell their head from their rear. You are talking about 30 doors, and judging by your questions, you wouldn't be able able to find your butt from your head even if I draw a 1:1 scale map for you..lol

These are dangerous times, David. Suckers get had in times like these. Don't be one of them - study! Take your time. DD is all on you - there is no one to call. It's all on you, David! This is REI, not amateur hour...there'll be other deals, and you'll be more ready. For now - just study :)

Thank you Ben, I will do my DD and study so I know what to do down the road.

My wife and I made an offer on a SFR will wait and see if he counters. And also I will take my time because going back over and found out it is a 14 unit building.

I would find out what data bases the city maintains for the Department of Buildings and purchase records. There are probably one or more places that would help you identify who owns the property. Someone is collecting the rent.

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