All Forum Posts by: Thomas Hickey

If you have multiple applicants simply go with another one

Looked into similar situations. Cheapest way to boost NOI is to convert all 8 units to electric baseboard heat. I assume they already have individual electric meters? Does cost more for the tenant so might increase turnover but people never think about it moving in so you won't have a problem filling them

Rob L. I'm a part of another apartment buying group as well. I've forwarded this information to them so hopefully they can make it too.

I plan on attending

Rob L. Please keep me updated if any plans

Greg H. Every state is different. In blue states you likely are required

Scott Weaner Scott I would think that you are required to make any repairs necessary to bring the apartment up to their standards. Much like failing to rent an apartment that contains lead to families with children holds you liable for discrimination.

I'm in the process of this right now.

In the future remember you cannot tell people you do not accept anyone based on disqualifiers, even dogs. You have to accept all applications and then make your decision for the best qualified candidate, just like hiring an employee

Keep in mind when renovating that much square footage of a building and adding a unit your town will likely require a sprinkler system and dedicated fire panel for entire building. What is the value of the completed unit if it's a condo?