I like this 8 unit multi family apartment complex. It's listed for $430k, total rent is $4640/month. 4 units are 2/1.5 for $630 and other 4 are 1/1 for $530. Built in 1985
What would be a good starting point for negotiations.
Looking forward to your responses.
@Jeet Sangha This is very little information to go on. You need to find out if the property needs any repairs, are the units all being rented out and are they at market rent. Is it a good area. Have all tenants been paying on time and keeping the properties in good condition. These are a few things you should look into. Hope this helps.
Welcome to BP.
The information you provided is sufficient enough for a response.
Lawn Care / Snow Removal
Hope it helps.
I agree very little to go on: you need to understand the condition of the expensive items: heaters/ boiler, roof, structure, piping (is it galv or copper). Have your own inspector go out and give you a report. In general I look for 14% Cap rate, make an offer contingent on inspection then you can negotiate from there. After you get a deal put together I can discuss the financing options - we have plenty of products for investors.
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