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Updated about 9 years ago on . Most recent reply

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121
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8
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Todd Moriarty
  • Investor
  • Macomb, MI
8
Votes |
121
Posts

If I buy an apartment building, who keeps the cash reserves?

Todd Moriarty
  • Investor
  • Macomb, MI
Posted

I'm looking at different buildings right now and was told by a reliable source that, if I buy the building, I get the owner's cash reserves.  That doesn't sound right to me.  I know I get the tenant's security deposits, but the reserves?

Some owner's are including their cash reserves in the profit and loss statement for the building.  If I don't keep that money, then why include it in the statement and disclose it to me? 

Most Popular Reply

User Stats

18
Posts
2
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Austin H.
  • Investor
  • Marshall, TX
2
Votes |
18
Posts
Austin H.
  • Investor
  • Marshall, TX
Replied

No one in their right mind would hand over their cash reserves. It's shown in the P&L statement so you can see where the money is going on and out at.

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