Looking for Help Analyzing a 6-Plex in Oregon
Hi BiggerPockets,
I am a beginner investor based in Beaverton. I am about to make an offer on a 6-plex in Salem and wondered if I could share the details with an experienced investor in the area who would be willing to give me their input. I believe in my analysis, but there are other factors such as location, especially location, that I am not as confident about.
Briefly, I plan to offer $410,000 for a 6-plex that I believe has great opportunity to add value via increasing rent (current gross income = ~ $50,225), decreasing expenses (current operating expenses ~$26,000) and increasing the value via updating the property. 1 beds are currently averaging $722 and I believe I could get $875+, the 2 bed unit is rented for $850 and I believe I could get $1000+. If anyone has experience in the area please let me know, I'd love to share some specifics and hear your thoughts!
Thanks,
Brian
I am a beginner investor based in Beaverton. I am about to make an offer on a 6-plex in Salem and wondered if I could share the details with an experienced investor in the area who would be willing to give me their input. I believe in my analysis, but there are other factors such as location, especially location, that I am not as confident about.
Briefly, I plan to offer $410,000 for a 6-plex that I believe has great opportunity to add value via increasing rent (current gross income = ~ $50,225), decreasing expenses (current operating expenses ~$26,000) and increasing the value via updating the property. 1 beds are currently averaging $722 and I believe I could get $875+, the 2 bed unit is rented for $850 and I believe I could get $1000+. If anyone has experience in the area please let me know, I'd love to share some specifics and hear your thoughts!
Thanks,
Brian