All Forum Posts by: Jordan Thompson

thank you all for the advice.  

I called the utility companies and they all said I can not have that info because its not my account.

No I haven't used any software. Yet

Agent unfortunately @John Santero, The agent is also a residential agent in a small town.   So commercial listings isn't one of their strong suits.  I requested to speak to the seller and they said they are the go between.

I also asked for the previous utilities and the seller sent a word document saying Gas 310 per month, electric 275 per month and water 175 per month .

multiplied those numbers by 12. gave me that as expenses

then took his rent income (all 10 units) multiplied those out for a year and said income. subtracted and said profit.  very vague numbers

I am contemplating a 10 unit apartment complex but the seller does not want to give out tenant information.  Is this common?

We had a terrible experience with inheriting tenants. So we made it a point to make sure the property is being occupied by the right tenants before negotiating. 

I have also heard horror stories of owners getting 100% occupancy so it will be more marketable regardless of tenants history.

Should I request this information and walk away if I don't get it?

-Jordan

Good afternoon bigger pockets,

Currently I'm debating on getting a 10unit complex all 1bed/1ba.  The income is great and is within market for my area.  The current owner only has one gas meter, electric, water and sewage.  I would love to get this property as I see a lot of value add potential if I can eliminate some of the expenses from the utilities.  I have considered solar power but I would much rather Sub Meter the units.  Advice? Links? Experience? HELP please

-Jordan Thompson

Submeter, Submetering, Sub-meter

I'm peanut butter and jealous.

What expenses does the owner have? Landscaping, Property manager, utilities,...

If you could develop an equation that can calculate PPSF by zones for example if a property in this zone drops below $XX. per sq ft it may be considered a good deal.

I feel that may be beneficial for finding good deals on flips. Not likely to accurately asses rental properties.

I am a registered gun owner and have multiple home defense weapons in my house but having children in the house we keep them in a locked cabinet or safe.  In that moment I didnt have time to get to the key then to the safe.  
As for keeping the business stuff locked. We have an office a door down from our bedroom and keep any tenants personal information locked in a filing cabinet. We now have  mounted lockable key box just for the tenant keys.   

Thank you again for all of your responses,

Jordan Thompson