BiggerPockets

So we actually just unloaded two of the six properties that we have for sale and that leaves us with four that will clear out our inventory. There are current offers on the properties however no contracts have been signed and so I wanted to extend another invitation to the BP family to grab these properties as a package or individually once again before they're gone.

I'd love to answer any questions that you may have in regards to the properties. So "PM" me if you have any questions. I will be happy to email you individual property numbers if you'd like.

- Alex

Here are the numbers for the four properties combined:

Price for 4 Properties - $159,999K
Combined Appraised Value - $330K
Combined Equity Value - $170K
Combined Rental Income - $39,000Yr, $3,250/Mo
Water/Sewer: $3,000Yr - $250mo.
Taxes/Insurance: $7,824Yr - $652Mo
Property Management: $3,900Yr - $325mo
Total Expenses: $14,724Yr - $1,227mo
Net Income: $24,276Yr - $2,023mo
Cash on Cash return: $24,276/185,000 = 15%

Hello Norm,

As far as maintenance and vacancies
are concerned, we provide a 12 month
major mechanical warranty for the properties
which does not come out of the landlord's
expense for the first year. Also the properties
are freshly renovated so the only other
expense would possibly be lawn care
which is the responsiblity of the property
manager.

As far as the expenses are concerned, our
expenses are not 50%, they are just as
quoted. Those are the actual expenses
so you are miscalculating the expenses.
I do not know what you are basing your
numbers off of.

So as far as your $398 NOI, the $2,023
is cash on cash return.

Let me know if you have any more questions.

- Alex

Hello Norm,

One of these properties is a multi family unit and I have a list of the expenses if you'd like to see them. I've heard of that rule, however the expenses are the expenses and they do not make up for 50% of the rent.

Best regards,
Alex