Purchase Analysis ??

5 Replies

Possibly can get a quadplex and duplex for $220k,, gross revenues a month are $2,686,, Property taxes are around $3,200 a year, insurance at $2,000 a year,,, possibly would get property managed at 8%,,, no deferred maintenance,,, lets say a 20 year note at 5% on 25% down,,, deal or no deal?

Thanks Joel! Yes, tenants pay utilities so i'd use 50%,,, thanks for input

@Justin, If away you can reduce Property Taxes and Insurance. This might also increase your cash flow and get you where you want to be. I filed a complaint to my county for my taxes and received around $1200 off my following year. I've also shopped around on my insurance to get that lowered a bit. It might not be much but it can definitely help you cash flow it more efficiently.

Looks like a pretty good deal form just the numbers. I agree with @Account Closed   those taxes and insurance look very high for a property that cost 220k. 

Looks like a very good deal to me as well.. Those property taxes are CHEAP, comparative to what my properties cost me outside the NYC Areas.  I am negotiating a large 3 family unit in Nassau County LI and the taxes are $15k!!! And I am "happy" with that....Maybe I should be buying in Tennessee :)

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