- Montreal, Canada
- Votes |
We just got our first MF under contract. Not sure how to approach it (re: funding, loan apps and etc)
Here are the numbers:
Total units: 7 (4x 2 beds, 3x 1 bed)
Purchase price - $675,000
Renovations - $20K estimated on one unit but it can be deferred
Current as is ARV (estimated) - $950K
Current Rents - $6,050 (all month to month lease)
Projected Rents - $9,000 (market)
Taxes - $20,000
Current NOI - $33,310
Any pointers would be appreciated on how to proceed, what to look out for and etc
We close in 60 days.
Thank you all.