Could any show me what my number should look like on a property this size? I want to partner with some great people to get started in Multi family units.
@Dejuan Calloway Is it in Winnipeg? What are the rents? You are looking at 36k/door; might be beat up. You might get beat up! LOL
You got any details? Please elaborate on what you mean by 'your number'.
Lol no its not in Winnipeg the rents in the area area $700-$800. It is mostly vacant now due to terrible management. I think most of the units may need work to bring them up to date.
@Bjorn Ahlblad $3m in estimated repair cost monthly gross income about 200k
@Dejuan Calloway so 50k per door; at 700-800/mo there ought to be money to be made...........trick will be to get there. You will need some very experienced partners to do this-maybe some will chime in.
@Dejuan Calloway if you can provide more details around the purchase plan including property class and sub market class, renovation timeline, investment return goals, and business plan to run the apartment community we can help