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Updated over 7 years ago on . Most recent reply

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33
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5
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Katie Johnson
  • Residential Real Estate Broker
  • Morris Heights, NY
5
Votes |
33
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825k a year investment- what should I look out for?

Katie Johnson
  • Residential Real Estate Broker
  • Morris Heights, NY
Posted
Here are the numbers 44 Unit multi-family for sale $12,618,052 Gross Rent Roll - $ 918,000 Total Expenses - $92,950 Net Operating Income - $ 825,050 I think this is a great investment, on a large scale. However, I would like to see what I can’t see. Would some of you seasoned investors chime in to tell me what are some of the important things to look out for before making a big purchase like this? Thank you for your time.

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285
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109
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Jonathan Orr
  • Developer
  • Boise ID
109
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285
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Jonathan Orr
  • Developer
  • Boise ID
Replied

Look at the existing leases.  It may be leased right now but if lets say 10 leases expire in a month or 2, then you are put into a situation where you will have to re-lease or potentially find new tenants.  Additionally I would be careful of the condition of the property.  Make sure doing your DD that you get a inspection.  Don't want the property to look nice but if some major repairs are just hanging on and the cost will pass along to you. That is a major expense to watch out for.  Last I would be check on if there is a lot of delinquent payments.  Meaning, is it going to be a pain just to get rent and paid by the tenants.  

Just a few tips I really look at.  there are a lot more but that is just scratching the surface.

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