I am new to real estate investing and am looking for some advice to get started. Wondering if this is worth while deal.
I think that someone sliped a decimal point somewhere - The reprort shows monthly NOI of $113..22 which is $1,358.64 annually. With a purchase price of $133K (all in), that works out to a ~1 CAP.
I found the presentation of the information colorful but confusing. Clearly the seller / agent is someone who know how to prepare a sales brochure but needs to double check their math.
Hope this helps.
@Adam Turner , the fact that it'll cost at least as much as it's worth suggests that deals like this are common. ie. Nothing special. Also, can you really borrow 100% of the purchase price?
There's more to be said, which I'll leave to others for now. Welcome to BP...
Thank you for your time. Appreciate the feedback.
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