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General Landlording & Rental Properties

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Scott Justason
  • Assett Retrieval Specialist
  • Rowley, IA
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31
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Looking at a 8 unit in a tiny town

Scott Justason
  • Assett Retrieval Specialist
  • Rowley, IA
Posted Feb 4 2015, 16:47

So I've run the numbers and it looks pretty good if the numbers given are real. 14% cap rate, 35k NOI and rents are below avg.20 yrs old. Looks good in pics. I asked the realtor for rent history and if it's under management. He replied he will get the rent info but is not too sure about management. My problem? Town population = 700. commute to Iowa City or Cedar Rapids is roughly 30-40 minutes, would make getting reasonably priced manager a little difficult. I want to go with it but the small town aspect is kind of scaring me away. Any input on this dilemma?

Thanks

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