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Private Lending & Conventional Mortgage Advice

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51
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Gwendolyn Davis
  • Real Estate Investor
  • Glendale, AZ
7
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51
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2, 50, and 70% rules

Gwendolyn Davis
  • Real Estate Investor
  • Glendale, AZ
Posted Oct 4 2014, 14:37

Hello all,

I am reading The Ultimate Beginner's Guide to Real Estate Investing. My question to you all is: How do you calculator for multifamily units? I'm practicing using the rules and here are some details.

  • Includes: Land & Building
  • Owner Pays: Sewer
  • Owner Pays: Water
  • Tenant Pays: Electric
  • Tenant Pays: Gas
  • # of Buildings: 6
  • # 1 Bedroom Units: 6
  • # 1 Bedroom Baths: 1
  • 1 Bedroom Units Avg SqFt: 600
  • # 2 Bedroom Units: 5
  • # 2 Bedroom Baths: 1
  • 2 Bedroom Units Avg SqFt: 850
  • Income & Expenses Gross Annual Sch Inc: $78600
  • Income & Expenses Adjusted Gross Inc: 74670.00
  • Income & Expenses Operating Exp: $31264
  • Income & Expenses Net Operating Income: $43406
  • Number of Units: 11
  • 1 Bedroom Units Average Rent: 550.00
  • 2 Bedroom Units Average Rent: 650.00
  • Total Monthly Rental Income: 6550.00
  • Vacancy Allowance: 0.05
  • Annual Water/Sewer Expenses: 12000
  • Annual Management Expenses: 5226
  • Annual Maintenance Expenses: 6000
  • Annual Landscape Expenses: 3600
  • Annual Insurance Expenses: 2750