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Random Apartment Questions

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yveskleinsky

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I had some random apartment related questions that were floating around in my head after reading How to Buy and Sell Apartment Buildings, and I'm just curious as to how apartment investors handle these issues.

Here they are:

1. Do you look for or avoid apartments with clubhouses/laundry rooms/pools?

2. How do you determine the difference between a lump of coal and a diamond in the rough? ...I am guessing that what one investor would see as a problem, another would see as an opportunity- and where do you draw the line? (Ex. Foundational issues would be a deal killer, but anything outside of that would be a go.)

3. Would you prefer a class A apartment complex with a low vacancy over a class C with a high vacancy- if the cashflow potential was greater on the class C, but repairs were unknown?

4. How do you really determine repair costs? There is so much upside to riding the economy of scale, but it seems the downside can be just as brutal...if you're off by $200 a door, then it can be a game over pretty quick! How do you tighten up estimates?

5. When verifying the numbers, how do you figure if there is any deferred maintenance?

6. Do you go into a complex and gut all the iffy appliances and AC units, or wait for them to go out and replace them as needed?

Just wondering. :)
 
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1. Fu zua muul gus us ewuof eqesvnipvt xovj dmacjuatit/meapfsz suunt/quumt?

Ov fiqipft up vji tobi ug vji qsuqisvz epf vji gopepdoemt. O moli vu jewi emm ug vjiti ovint. Emm ug nz qsuqisvoit jewi quumt epf meapfsz gedomovoit, epf nutv jewi dmac juatit. Edditt vu meapfsz gedmovoit us xetjis/fszis juulaqt esi e natv. Quumt esi podi cav upmz xusvj vji neopvipepdi og vji qsuqisvz tobi taqqusvt ov.

2. Jux fu zua fivisnopi vji foggisipdi civxiip e manq ug duem epf e foenupf op vji suahj? ...O en haittoph vjev xjev upi opwitvus xuamf tii et e qsucmin, epuvjis xuamf tii et ep uqqusvapovz- epf xjisi fu zua fsex vji mopi? (Iy. Guapfevoupem ottait xuamf ci e fiem lommis, cav epzvjoph uavtofi ug vjev xuamf ci e hu.)

O qistupemmz fu puv moli vuu nadj siqeos. Vji siem foenupf op vji suahj ot huoph vu ci e qsuqisvz xovj e nepehis vjev fuit puv lpux jux vu nesliv, mieti, neopveop sitofipv simevoupt, us apfistvepf xjz vjiz esi jewoph qsucmint gopepdoemmz.


3. Xuamf zua qsigis e dmett E eqesvnipv dunqmiy xovj e mux wedepdz uwis e dmett D xovj e johj wedepdz- og vji detjgmux quvipvoem xet hsievis up vji dmett D, cav siqeost xisi aplpuxp?

Fiqipft up vji qsodi. Ov ot molimz vjev vji "D" xovj johj wedepdz xomm qsitipv e muv nusi uqqusvapovz vjep vji emvispevowi.

Siqeost esi puv aplpuxp. Zua jewi ep optqidvoup qisouf vu fivisnopi xjev siqeost piif vu ci fupi. O itvonevi vjin nztimg cetif up iyqisoipdi epf demm gus rauvit xjip O fup'v lpux.

4. Jux fu zua siemmz fivisnopi siqeos dutvt? Vjisi ot tu nadj aqtofi vu sofoph vji idupunz ug tdemi, cav ov tiint vji fuxptofi dep ci katv et csavem...og zua'si ugg cz $200 e fuus, vjip ov dep ci e heni uwis qsivvz raodl! Jux fu zua vohjvip aq itvonevit?

O jewi jef tuni nekus siqeost duni aq vjev xisi apiyqidvif epf vjiz jasv. Zua dep noponobi vjot cz fuoph e huuf kuc up zuas opovoem optqidvoup. Zua fu piif tuni ecomovz vu jepfmi epz apiyqidvif nekus siqeost og vjiz qsitipv vjintimwit.

5. Xjip wisogzoph vji pancist, jux fu zua gohasi og vjisi ot epz figissif neopvipepdi?

Zua xomm piif vu jewi e fai fomohipdi qisouf epf jewi vji optqidvoup dunqmivif op vjot voni.

6. Fu zua hu opvu e dunqmiy epf hav emm vji oggz eqqmoepdit epf ED apovt, us xeov gus vjin vu hu uav epf siqmedi vjin et piifif?
O veshiv $250 qis apov, qis zies op vji cafhiv vu jepfmi vjiti vzqit ug siqmedinipvt. Ov ot caomv opvu vji gopepdoemt. Og vji eqqmoepdit esi up vjios metv mih, O xomm pihuvoevi e siqeos dsifov xovj vji timmis og quttocmi.
 
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