ASK MIKE MONDAYS - 1) Mike, when buying a CLASS C apartment, what is the largest CAP X expenditures you can expect? 2) What are the biggest mistakes when buying older apartments?
Upfront physical due diligence is critical when purchasing any apartment building. Have your engineer/ general contractor review all components to the apartment. Not reviewing deficiencies with your electrical, plumbing and sewer, foundation and roof can be the iceberg that sinks the investor’s ship.