Updated over 3 years ago on . Most recent reply
Massive Line Of Credit
Trying to figure out my best options thats why i am here. I have found a 14 unit building in prime miami 1.8 million price. building is also already renovated. An i can icrease rents to market value which is 20% more. What i want to know is if i should buy the property cash with my LOC or just use it for 30% down payment. Still have to pay back the LOC either way. With the 30% down payment ill have a lot more money to buy other deals down the road of uncertainty.
Let me hear some creative idea.
| Financial Summary - Unlevered | Current | Stabilized | ||
| Per Month | Per Year | Per Month | Per Year | |
| Gross Annual Income | $17,600 | $211,200 | $20,150 | $241,800 |
| Total Operating Expenses | $3,926 | $47,108 | $4,614 | $55,362 |
| NET Operating Income | $13,674 | $164,092 | $15,537 | $186,438 |
| CAP Rate - Unlevered | 9.0% | 10.2% | ||
| Operating Margin | 77.7% | 77.1% | ||
| Expense Ratio | 22.3% | 22.9% |