Feasibility Studies for Apartment Complexes

General Real Estate Investing
1

I’m trying to run feasibility studies on apartment complexes for practice.

At the RV Park I manage, we pay the electricity, water, garbage, recycling, and it has septic tanks so no sewer.

For those who own apartment complexes, do you ever pay for electricity, water, or natural gas?

And I’m guessing that you do pay for garbage, recycling, sewer, stormwater, etc.?

2

Hi,

Earth to Redstar, earth to Redstar, come in Redstar?  I am thinking I am back in the psychedelic era, the time of Woodstock! Where sex, drugs, rock & roll and tie-dye is the norm. Where flower children look to take flight into a realm of unrealistic colors, shapes and sounds!

Have you been nibbling on mushrooms again? You do realize your not supposed to drink the bong water?

Stay on the ground and just say “No” to drugs and alcohol.

Fix and flip, fix and flip, fix and flip! You have to learn to crawl before you can walk!

                    GR
3

Yea acid was my thing back in the day.

I do say “no” to drugs and alcohol.

4

Okay then what’s my hang-up on the fix and flip?

I’m scared.

What’s stopping me from looking up 10 properties to view on Zillow and contacting my realtor to see them? I know you say just to peek in the window, but I’m not there yet.

I have a better idea now then what I did last time I viewed properties of how much everything will cost and I’m set up in my HML’s system so I can pull the trigger right away.

What’s my hold up?

  1. I don’t know how to install an automatic sprinkler system so I can’t price this into the equation yet.
  2. I don’t have the numbers on labor EXACT even though I have many people that I’ve found on Craigslist than can do everything from laying tile to replacing Federal Pacific panels.

There’s so many more important things to do:

I need to get all the units rented at the park first. I need to see a chiropractor first about my 3 herniated discs. No!!! I need to flip a fucking house!!!

Once I do this, assuming it goes well, I will finally not be financially dependent on my dad, although I will keep him in mind as a lender and he does provide me a good income as park manager.

5

How did you land a job managing an RV park? What kind of qualifications do you need for that?

6

My dad owns it. I didn’t even know how to use a drill when I got the job.

After 17 months, I can pretty much do all the maintenance.

7

That is an awesome sounding gig you landed. Just to remind you that people either need to know someone like that who just gives them the job, or they have to start at the bottom. From the bottom of the totem pole you start as a leasing agent. I have applied for leasing agent jobs and never even got my foot in the door for an interview. After leasing agents they then progress to assistant property manager, and then finally property manager. It can take several years or more for most people to achieve property manager status.

8

Also I have a real estate license and a CAM license. I obtained those in order to get a property manager job. I did not even get my foot in the door. So consider yourself lucky.

9

There are all bills paid apartments. They tend to attract lower class clientele. Most apartments pay water and gas but the tenant pays electric and the a/c and heat are electric.

10

Hi,
Thanks, Bluemoon for the information. Really helpful post for me.