Multifamily Deal Analysis - Philadelphia Triplex
Greetings BP family!
I just ran a deal analysis and I was wondering if you could be so kind as to provide feedback on it. It's a Triplex that needs work (hence the asking price). I will go in 203(k) so the renovations will be rolled into the mortgage. Not the highest producing rental but it will serve as my first and one must start somewhere.
What are your thoughts, did I get this right? What am I missing? What would you do differently? I need to hear the truth!
I think my cap rate is super small ... what does that mean?
I'm investing for cash flow so I am loving the cash on cash (assuming its calculated correctly).