Updated over 7 years ago on .
CONDO UNITS Purchase
Hello fellow BPers. I'm wondering your thoughts on a deal im working on. Im currently looking at several condos roughly around $30000 each is list price. After plugging numbers into the BP calculator, i get over 100 per door on each of them. One thing i wasnt sure on was on the ARV, which judging from the pictures and since they are currently rented there would be no repairs made. Therefore, I left the purchase price the same as the ARV. Is this the correct way to do this if you arent making any repairs? Also, this would be under a property management that has the sole right to manage these buildings, meaning if they aren't very good then I guess I'm SOL. They have a decent reputation and have been around for awhile so am not too scared about that but just first time dealing with a PM. Any thoughts or insight would be great. Just trying to cover my bases and see if there is anything I havent thought of. I also asked if there were any special assessments on the horizon as those can make or break a deal and I'm still waiting to hear back. Thanks again!