First apartment - what info do I need to determine a good deal?
Hey guys,
I'm looking to buy my first apartment complex and I'm in search of some guidance on what exactly to do first. I found a 34-unit complex in a quality area. I have some basic info on the property such as cap rate, GRM, price per unit, and NOI that I got off the online posting.
I know I need more information like a rent roll, occupancy rates, economic occupancy rates, history of expenses and maintenance. And I definitely know I need to walk the property, probably multiple times.
But I am unsure of what I should do first?? Do you just call up the listing broker and say "hey I need all this information and I'd like to come see the property" or what?
I'd really appreciate any feedback.
Thanks,