Should I see ALL 46 units?
If I like what I see, I will then hire a professional inspector to by in the next day and do his thing.
See SOME or see ALL 46 units.
Thanks Jag.
I usually want to see as much as possible. But I guess depending on the situation you wouldn’t have too.
I was going to buy a 48 unit after the winning bidder wanted out. It was a total rehab, knowing every unit needed repair I still walked the whole thing.
I have toured buildings where they only showed you the units that wanted to. When I asked to see other they hesitated. When I threated to walk away, they gave in. The units they wouldn’t show were dumps, not even livable.
AzonPM nailed this one!!! If you only look at some of the units, you can assume that you saw the best ones. If you’re looking to purchase the building, look at every unit.
Mike
You’ll never know your rehab budget if you only see a few…with that many units your budget could be short a 6 figure number.
I have not bought a multi family, but I have bought a house that the seller would not turn on the utilities for. I let them know that I was adjusting my bid to include the replacement of everything that I could not check out because I could not inspect it (A/C, lights, power feed lines etc). They didn’t like it but I bid on properties as if every thing they won’t show me is broken and takes a complete replacement.