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Forums » Make Deals, Find Partners, Mentors & BirdDogs, etc. » Birmingham, AL 10 Unit Apartment Deal

Birmingham, AL 10 Unit Apartment Deal Subscribe to Birmingham, AL 10 Unit Apartment Deal

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Timothy Launhardt

Real Estate Investor · Austin, Texas


Forum_avatar_avatar-tmlaunhardt

Jan 04 '10, 04:13 AM

The property is vacant due to a previous foreclosure.... So there's no NOI yet. This is not a short sale.

* Mix: 2 Beds - 1.5 Baths
* Area Rents - $700 to $750 per month
* Price: $450K
* 10 units
* Class B Property - Great Area

Expenses:
Taxes: $7000 per year
Insurance: $8000 per year
Misc Exp: $4800 per year
Financing Terms:
* Credit Score: 620 or Higher
* 15% Down Payment
* Lender will escrow repairs
Rents Range: $700 to $750 per month

7 units need minor repairs and will be ready to go within 2 weeks
* Carpet and Paint

email me at [EMAIL REMOVED] for video footage and more info.

Tim

Edited: 06/26/2010 at 11:06AM by Moderator : email in signature, please




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