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Forums » Seeking Financing, Money, or Loans » GSI of $883,200 for $1.5 million

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Tag Tags: detroit cash-flow turnkey investor


Manny Da ponte

Real Estate Investor · Montreal, Quebec


Forum_avatar_avatar-manny74

Mar 30 '10, 04:18 AM

This deal is for 92 homes in Detroit all in good neighborhoods. The properties have all been rehabbed and are all occupied by a section 8 tenant. The sale comes with 1year property management as well as 1year home warranty and 1 year rent guarantee. I am looking for a funding source or a JV partner for this deal. Below is some more on the numbers.


Purchase Price MonthlyGSI Year 1 GSI Year 2 GSI
92 U. $1,495,000.00 / $73,600.00 / $883,200.00/$883,200.00
Vacancy 44,160.00
Property M. 44,160.00
Maintenance 44,160.00
Taxes 119,600.00 119,600.00
Insurance $64,440.00 $64,440.00
Total OPI $699,160.00 $566,680.00

Debt service $12,896.89x12 $154,762.68 $154,762.68

NOI $544,397.32 $411,917.32

DCR 1st year 3.51
2nd year 2.66

Edited: 06/26/2010 at 12:16PM




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