$300,000 6 unit rental scenario.
I have done some calculating and with my curcumstances. I should be able to have $30,000 of hard cash. I can possibly finance for more but would rather have two other investors to go in on this deal with me with equal amounts invested ($30k) per x 3 = $90k.
As for start up monies and with the property being worth $50k per unit x 6 units; what are your thoughts as experienced investors for making this a profitable investment? What exactly are the steps for aquiring a small apartment building like this. How will the due diligence and LOI stages procede. Is there a deposit? How large if so? Im sure certain things are different in each state but whats the general process and expenses on average if the Cap rate is 6%
Thanks again in advance,
CJ Miles
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Ben Leybovich I think your last line needs to be at the top of any forum thread. Great point!
"Long term property investing has 2 speeds. Forward is slow, but reverse is usually very quick and it can hurt..."