I am new to this investment, but I checked this deal and looks to me like it has so much potential. I need to know how much I can spend on this quadplex after purchase.
Hey @Naqib Hossain, if it's the property I think it is on concord blvd I am acutely familiar with it. the calculator link is a tough platform from which to provide guidance. I think if you shed some light on your goals, cash position, acquisition strategy, etc we may be able to analyze it further. Lots of deals have potential, and these days (especially in saint paul) cash flow is created more than it's just flat-out purchased; most properties here look pretty bleak on paper as-is. Based on what I know to be true, being a house hacker in saint paul myself, I have a pretty good idea of what areas this property could be in and whether your analysis of rental income and expenses is on target, but the greater context would be helpful to provide meaningful advice.
I am actually skipping this property at the moment because I am a newbie to investing. But I really appreciate your response. I am looking into properties which does not require much rehab at the moment.
Yeah, that makes sense. It needed about 125k minimum to be rent-ready. It's also not likely a lender would provide a loan for it. best done with hard money or cash. There are also two lots at play with that property. I house hack in saint paul, hit me up anytime if you'd like to chat.
Glad to hear you're getting into investing! This one could have some good potential! What part of Saint Paul is it in? On this one, the amount you can spend will really depend on the return you could get from the property and the rate of return you would like to get. If you were to spend 100k on rehab then your COC ROI would be a lot closer to 7%. How much are you estimating the rehab costs to be?
Real Estate Agent · Saint Paul, MN · Member since 2014 · 384 posts · 401 votes
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Hey @Naqib Hossain, if it's the property I think it is on concord blvd I am acutely familiar with it. the calculator link is a tough platform from which to provide guidance. I think if you shed some light on your goals, cash position, acquisition strategy, etc we may be able to analyze it further. Lots of deals have potential, and these days (especially in saint paul) cash flow is created more than it's just flat-out purchased; most properties here look pretty bleak on paper as-is. Based on what I know to be true, being a house hacker in saint paul myself, I have a pretty good idea of what areas this property could be in and whether your analysis of rental income and expenses is on target, but the greater context would be helpful to provide meaningful advice.
Hey @Naqib Hossain, if it's the property I think it is on concord blvd I am acutely familiar with it. the calculator link is a tough platform from which to provide guidance. I think if you shed some light on your goals, cash position, acquisition strategy, etc we may be able to analyze it further. Lots of deals have potential, and these days (especially in saint paul) cash flow is created more than it's just flat-out purchased; most properties here look pretty bleak on paper as-is. Based on what I know to be true, being a house hacker in saint paul myself, I have a pretty good idea of what areas this property could be in and whether your analysis of rental income and expenses is on target, but the greater context would be helpful to provide meaningful advice.
I am actually skipping this property at the moment because I am a newbie to investing. But I really appreciate your response. I am looking into properties which does not require much rehab at the moment.
Hey @Naqib Hossain, if it's the property I think it is on concord blvd I am acutely familiar with it. the calculator link is a tough platform from which to provide guidance. I think if you shed some light on your goals, cash position, acquisition strategy, etc we may be able to analyze it further. Lots of deals have potential, and these days (especially in saint paul) cash flow is created more than it's just flat-out purchased; most properties here look pretty bleak on paper as-is. Based on what I know to be true, being a house hacker in saint paul myself, I have a pretty good idea of what areas this property could be in and whether your analysis of rental income and expenses is on target, but the greater context would be helpful to provide meaningful advice.
I am actually skipping this property at the moment because I am a newbie to investing. But I really appreciate your response. I am looking into properties which does not require much rehab at the moment.
Yeah, that makes sense. It needed about 125k minimum to be rent-ready. It's also not likely a lender would provide a loan for it. best done with hard money or cash. There are also two lots at play with that property. I house hack in saint paul, hit me up anytime if you'd like to chat.