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John T. Reed
342 Bryan Drive
Alamo, CA 94507
925-820-7262

To Arthur W. Tunnell, Jr.,
my father-in-law,
who told me ten years ago
to write this book.

Copyright 1991 John T. Reed
All rights reserved.

Published by John T. Reed
342 Bryan Drive
Alamo, CA 94507
925-820-7262

Manufactured in the United States of America
by Cal-West Printing and Graphics, Concord, CA
Library of Congress Catalog Card Number: 90-091781
ISBN: 0-939224-22-4

Other material by John T. Reed:

For more information, see the order forms in the front and back of this book or contact John T. Reed, 342 Bryan Drive, Alamo, CA 94507, or call 925-820-7262.

Thanks to

Gil Kemp for publishing my first book...my wife, Marty Tunnell for proofreading this one...Mike Scott for his willingness to share his knowledge of the apartment borkerage business.

About the Author

John T. Reed is a real estate writer and investor.
His real estate work experience includes home, land, and investment property brokerage and residential and nonresidential property management. As a property manager, he managed apartment complexes, office buildings, industrial space, farms, and single-family rental houses.
He has invested in New Jersey, Texas, and California.
He is the editor and publisher of John T. Reed's Real Estate Investor's Monthly, a national newsletterand the author and publisher of seven books on various real estate investment subjects.
Mr. Reed has been interviewed about real estate by Morley Safer on 60 MInutes, by David Hartman on Good Morning America, and by Larry King on Larry King Live as well as other television and radio programs. His analysis of real estate investing has appeared in The Wall Street Journal, Newsweek, U.S. News & World Report, Changing Times, Money, and various real estate journals.
He holds a Bachelor of Science degree from West Point and a Master of Business Administration degree from Harvard Business School.

Danville, California
How to use this book

Apartment buildings are complex properties. Even a small building contains hundreds of feet of plumbing pipes, dozens of plumbing fixtures, hundreds of yards of wiring, thousands of square yards of carpet, complicated heating systems, and so forth. Many properties contain substances or problems now considered to be dangerous contaminants like asbestos and leaking underground storage tanks.
Apartment income is dependent upon multiple leases that often contain a variety of terms. Expenses include dozens of items that must be verified or accurately estimated. Detailed purchase and mortgage contracts must be signed, and everything must be completed at closing, often in a closing meeting attended by representatives of lenders, title insurers, and the parties to the agreement of sale. Clearly, this is a process in which check lists are necessary - for the expert as well as the novice.
Apartment Building Acquisition Handbook is meant to be used not just read. Space is left for you to check off items as you see them and to write down your notes.
On occasion, time will be too short for you to look at everything included in these check lists. For that reason, I have placed asterisks before the items that I believe are most important in the check lists. No matter how short you are of time, however, you should consider the asterisked items.
Your notes in this book will provide a written record to help you evaluate potential investments. If you'll be evaluating many properties, I suggest you buy multiple copies of this book. There is also additional space at the end of each section and at the end of the book for you to use as you'd like. You may wish to make general observations, summarize a property's good points and problems, or jog your memory with simple plans of rooms or sketches of problem areas.

A 94527 or call 800-635-5425

Thanks to

Gil Kemp for publishing