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Multi-Family and Apartment Investing

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120
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Jason Hill
  • Killeen, TX
51
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120
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Opportunity? Or nightmare waiting to happen

Jason Hill
  • Killeen, TX
Posted Aug 7 2018, 09:33

I found a 36 unit apartment complex in a class C neighborhood that is being sold with owner financing. So i thought opportunity right? So i contacted the number they sent me a package with all the numbers and what not. They asking price is 800k. The package i was sent said 10.8% after repair proforma cap rate. The crazy part to me is that only 9 units are occupied!!!! What would you do?

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