A little help | second opinion | MF Greenville, SC
So here is the deal that I have under contract, i would really appreciate some good ole BP feedback on this. Thank you for your time.
Purchase Price - $239,000
Gross Potential Income- $48,672
Vacancy & Collections 15% - 7,301
Net Income - $41, 371
Expenses have been a bear to get out of the seller, but VERY conservatively i have operating expenses at 48% ( Property Management, Utilities, Taxes, Insurance, Eviction costs, accounting and legal, repair)
This is a classic value add and re-position, rents are at $500 and should be $700.
Because the grade, ( C Average) I have increased vacancy and collections from 12% to 15%)
What are your general thoughts?
Most Popular Reply
@Mario Brown - how many units ?
How are you financing and what are the financing terms ?
Based on your projected revenue this would be a commercial note with min. 25% down.
What condition are they in ?
How many beds/baths in each unit?
Who pays utilities and what are utility costs?
Way to many unanswered questions in order to analyze.
I hope you have a refundable deposit as I would not recommend getting a property under agreement with so many unanswered questions.
- Chris Seveney
