Really struggling with this 19 unit purchase- Please Help!!

5 Replies

Hi BP family,

Please help me breakdown this 19 unit deal! I am really struggling on whether I want to pull the trigger on this or not. This asset is right down the street from where I live so it will also be very convenient for me, even though I will still have to get management involved. Here is the simple breakdown-

Yearly Rent Roll- (incl. laundry)- 202,900.00$


Yearly Expenses-

Mortgage Payment (w/ taxes & Insurance)- 114,000.00$

Management Fee (already in place)- 18,000.00$

Utilities- (water, sewer, Trash)- 13,000.00$

Estimated maintenance & repairs- 9,000.00$

Notes- 

- Located in an up and coming city with a population of about 30-35k people.

- In Illinois

- 8 units newly remodeled 

- 9- 1BD/1BTH

-10- 2BD/1 BTH

- Washer/ Dryer hookups in each unit

- Roof is extremely old

- Building built in 1980

Any feedback will be greatly appreciated! Please let me know if their are any questions! Thank you.

You never stated how much you are planning on paying for it. Without that information then there is no way of knowing if it is a good deal or not.