What type of questions do i ask before buying an apartment building?
I have recently been given the opportunity to purchase an 4 unit apt. in washington, dc... for a realitively low market price... I have a meeting with the realtor so he can answer my questions, but what type of questions do i ask... By the way it's in a great location by a School, 1 block from a bus stop, 15 min walk to a metro location, Neighboorhood grocery store 3 blocks away... Please help
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- pets allowed? do u mow own grass? when things are broken down, who to contact, landlord or do you get own people to fix things? any rules to follow??
- Maybe ask about the vacancy rates of other buildings in the area, so you can get a sense of occupancy rates for when you're ready to rent the apts. If she's a realtor she may handle rentals as well, so ask her if she'll screen propective tenants for you, or knows someone who will. You want reliable tenants who will pay their rent and not trash the place.
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