Sub to deal

[Kris Kempe]

Hey guys, 

Looking for a partner to JV on a sub-to deal. The owner has had a 7 unit and a 24 unit for a while and just wants to get rid of it. They are interested in sub to although they need some money down. They want $80,000 down but that can be negotiated down.

The 7 unit:

Total expenses: $ 3,590 annually 

Taxes: ~$2,944.7 annually 

Gross income: $58,500 annually

Net income: $51,965 annually

24 unit:

Total expenses: $120,790 annually

Taxes: ~$19,045 annually

Gross income: $167,374annually

Net income: $24,005 annually