Sub to deal
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
Looking for