Purchase of a complex (by Mitch [OH]) May 21, 2018 4:33 PM
Purchase of a complex (by NE [PA]) May 21, 2018 4:39 PM
Purchase of a complex (by Mitch [OH]) May 21, 2018 4:42 PM
Purchase of a complex (by Mitch [OH]) May 21, 2018 4:42 PM
Purchase of a complex (by David [MI]) May 21, 2018 4:48 PM
Purchase of a complex (by NE [PA]) May 21, 2018 4:49 PM
Purchase of a complex (by Ken [NY]) May 21, 2018 4:58 PM
Purchase of a complex (by Johnny B. [MA]) May 21, 2018 5:01 PM
Purchase of a complex (by Mitch [OH]) May 21, 2018 5:04 PM
Purchase of a complex (by NE [PA]) May 21, 2018 5:15 PM
Purchase of a complex (by NE [PA]) May 21, 2018 5:21 PM
Purchase of a complex (by John [OH]) May 21, 2018 5:24 PM
Purchase of a complex (by plenty [MO]) May 21, 2018 6:44 PM
Purchase of a complex (by Deanna [TX]) May 21, 2018 6:45 PM
Purchase of a complex (by RB [MI]) May 21, 2018 6:46 PM
Purchase of a complex (by NC INVESTOR [NC]) May 21, 2018 6:55 PM
Purchase of a complex (by GKARL [PA]) May 21, 2018 7:18 PM
Purchase of a complex (by Richard [TX]) May 21, 2018 7:29 PM
Purchase of a complex (by Ken [NY]) May 21, 2018 7:51 PM
Purchase of a complex (by Robert J [CA]) May 21, 2018 9:33 PM
Purchase of a complex (by TOM [FL]) May 21, 2018 10:20 PM
Purchase of a complex (by Andrew, Canada [ON]) May 22, 2018 2:29 AM
Purchase of a complex (by Luba [NY]) May 22, 2018 3:46 AM
Purchase of a complex (by Oregon Woodsmoke [ID]) May 22, 2018 5:53 AM
Purchase of a complex (by JB [OR]) May 22, 2018 11:00 AM
Purchase of a complex (by Deanna [TX]) May 22, 2018 1:53 PM
Purchase of a complex (by AllyM [NJ]) May 22, 2018 5:40 PM
Purchase of a complex (by Mitch [OH]) Posted on: May 21, 2018 4:33 PM Message:
If I want to purchase a 8 unit building to rent out isn’t it required the sellers make sure a smoke detector and fire extinguisher is already in each unit? --174.233.x.xxx |
Purchase of a complex (by NE [PA]) Posted on: May 21, 2018 4:39 PM Message:
Cheap fix and small problem. Don't let it deter you. --50.107.xxx.xxx |
Purchase of a complex (by Mitch [OH]) Posted on: May 21, 2018 4:42 PM Message:
Well I have 300 8 unit buildings I'm wanting to purchase so 3800 is not that cheap but I am wanting to know --99.203.x.xx |
Purchase of a complex (by Mitch [OH]) Posted on: May 21, 2018 4:42 PM Message:
Well I have 300 8 unit buildings I'm wanting to purchase so 3800 is not that cheap but I am wanting to know --99.203.x.xx |
Purchase of a complex (by David [MI]) Posted on: May 21, 2018 4:48 PM Message:
You should be able to afford an attorney to ask then. --170.224.xx.x |
Purchase of a complex (by NE [PA]) Posted on: May 21, 2018 4:49 PM Message:
I don't understand. You have 300 8 unit buildings and your buying another 8 unit and your concerned about $3,800? --50.107.xxx.xxx |
Purchase of a complex (by Ken [NY]) Posted on: May 21, 2018 4:58 PM Message:
If you are really trying to buy 300 8 unit buildings I think you should know this answer off the top of your head or at least have an attorney you can speak to about this issue. --72.231.xxx.xxx |
Purchase of a complex (by Johnny B. [MA]) Posted on: May 21, 2018 5:01 PM Message:
If you’re buying 300 8 unit buildings, you’re not buying 3800 units. Hopefully this is not news to you. --24.147.xx.xxx |
Purchase of a complex (by Mitch [OH]) Posted on: May 21, 2018 5:04 PM Message:
I have a total of 300 units 8 units per building. I am a property manager and I was just curious not looking for all the negativity of you don't know you don't know but I don't need attacked for this. K thanks --99.203.x.xx |
Purchase of a complex (by NE [PA]) Posted on: May 21, 2018 5:15 PM Message:
Well..... 300 units is going to need thicker skin than this. I guarantee you that. Is this your first RE purchase?
If your concerned about there being none, offer contingent on the repair/replacement of the alarms and extinguishers.
The numbers are larger, but the process is the same. --50.107.xxx.xxx |
Purchase of a complex (by NE [PA]) Posted on: May 21, 2018 5:21 PM Message:
Hold on. You're the manager of 300 units and are concerned about fire extinguishers and alarms? If you want to manage properly and stay within some sort of parameters for safety, tell the owner you will be installing them at their expense. --50.107.xxx.xxx |
Purchase of a complex (by John [OH]) Posted on: May 21, 2018 5:24 PM Message:
How about you stop lying first Mitch. Start telling the truth so someone can answer your question correctly. --70.62.xxx.xx |
Purchase of a complex (by plenty [MO]) Posted on: May 21, 2018 6:44 PM Message:
Sure. You can ask seller for anything you want. Did you ask? What did they say? --99.203.xx.xxx |
Purchase of a complex (by Deanna [TX]) Posted on: May 21, 2018 6:45 PM Message:
"I want to purchase a 8 unit building"
"I have 300 8 unit buildings I'm wanting to purchase"
"I have a total of 300 units 8 units per building"
"I am a property manager"
Can you give us a couple of paragraphs? :P --96.46.xxx.xx |
Purchase of a complex (by RB [MI]) Posted on: May 21, 2018 6:46 PM Message:
Thanks for stopping by. --47.35.xx.xx |
Purchase of a complex (by NC INVESTOR [NC]) Posted on: May 21, 2018 6:55 PM Message:
WOW! That was brutal. --71.75.xx.xx |
Purchase of a complex (by GKARL [PA]) Posted on: May 21, 2018 7:18 PM Message:
Somebody is faking it. If I had 2400 units, there's a host of issues that I'd be concerned about before fire extinguishers. --207.172.xx.xxx |
Purchase of a complex (by Richard [TX]) Posted on: May 21, 2018 7:29 PM Message:
Sounds like Mitch was just asking advice on a scenario and looking for help.this is not a place to attack him for it. Mitch I believe it is different per state but in Texas I recall a property i managed that was up for sale we did go through every unit and do an inspection of smoke detectors and fire extimguishers. It was a few years ago so I can't recall if it was requested on the buyers or sellers end. --99.203.x.xx |
Purchase of a complex (by Ken [NY]) Posted on: May 21, 2018 7:51 PM Message:
Richard,I think the point was that anyone who owns or manages that many units should know that answer themselves,it was pretty basic.Sounds like the general consensus was he was full of it --72.231.xxx.xxx |
Purchase of a complex (by Robert J [CA]) Posted on: May 21, 2018 9:33 PM Message:
When an investor goes to buy a commercial rental property, they need to have it professionally inspected and a report generated. This way once you put the seller and listing agent on notice of problems you find, then they have to disclose this to other potential buyers.
Now that you're already in contract for a specific amount, you can renegotiate the terms based on list of questionable items such as broken, damaged and necessary repairs.
When was in escrow to buy an apartment house, I found that he owners replaced the galvanized pipes with cheap thin wall PVC pipe. Meaning it had to be replaced and all walls re-opened, pipes replaced, walls closed, primed and painted. Not just the repaired areas but the entire walls to match. From a simple re-pipe to a major do-over.
I got a $50,000 reduction in price. This was a million dollar property. --47.156.xx.xx |
Purchase of a complex (by TOM [FL]) Posted on: May 21, 2018 10:20 PM Message:
Hold the Presses!!!
You have 300 8 units? higher math tells me that should be 2400 units.
SO you have/own 2400 units. THEN you proceed to tell us you MANAGE 300 8 units.
NO, wrong!!! Higher math you have a total of 300 units.
OK now that the math quiz is out of the way we can move on to bigger and better things.
Managing 300 units. Therefore 8 units that you are buying should be a WALK IN THE PARK for YOU.
I guess I need to find a teddy bear or we could start the Mitch of OH Warm and Fuzzy Fund. IF you have an unwanted teddy bear sitting collecting dust PLEASE forward it to MITCH in OHIO. He wants a Warm and Fuzzy answer to his question.
HERE is NOT the place to want a Warm and Fuzzy answer because many of the Landlords here have dealt with tenants that they know a line when they see or hear one. SO HUG a teddy bear. BIG HUG!!! For the BEST warm and fuzzy feeling. THEN come back and restate the question.
What was the question??? --99.56.xx.xx |
Purchase of a complex (by Andrew, Canada [ON]) Posted on: May 22, 2018 2:29 AM Message:
And that is an example of why I dont hire a property manager. --65.94.xxx.xx |
Purchase of a complex (by Luba [NY]) Posted on: May 22, 2018 3:46 AM Message:
In my part of the woods any property must have a certificate of occupancy issued before the transaction.
If it requires by the code - the seller need to provide it, otherwise you can ask and see what would happened.
--69.120.xxx.xxx |
Purchase of a complex (by Oregon Woodsmoke [ID]) Posted on: May 22, 2018 5:53 AM Message:
You'd think that anyone who is managing 300 buildings would know whether or not fire extinguishers and smoke alarms are required.
My interpretation is that OP has been managing and now wants to purchase a building of his own.
OP, if you want to be sure each apartment comes already equipped with fire extinguisher and smoke alarm, write that into your offer to purchase. --174.216.xx.xxx |
Purchase of a complex (by JB [OR]) Posted on: May 22, 2018 11:00 AM Message:
I must say, it was one of the worst worded, confusing posts/follow-up comments I've read from someone who I assume does not have the excuse as English not being their primary language. Maybe not a math major?? --50.45.xxx.xxx |
Purchase of a complex (by Deanna [TX]) Posted on: May 22, 2018 1:53 PM Message:
Phone typing detected... :) --96.46.xxx.xx |
Purchase of a complex (by AllyM [NJ]) Posted on: May 22, 2018 5:40 PM Message:
It depends on your local ordinances sometimes. Here we had to have three pound ABC extinguishers in every kitchen hung on the wall. Now the state has mandated ten pounders changed or tested yearly.
Don't pay attention to the nasty people. They are frustrated. --73.178.xxx.xx |
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