Hello there, I'm new in the community and also as investor, I'm in need of some advice with this deal that I'm working on.
It is located in Houston Tx, Third ward section, couple of blocks away from the University.
The selles is asking $550 and after negotiations I was able to bring him down to 490K. The actual rental income right know is 4,375 a month but I believe that I can increase to 6K after stabilization. there are 6 units at 1bed/1bath each. I really need some advice before I agree to this deal.
Hello there, I'm new in the community and also as investor, I'm in need of some advice with this deal that I'm working on.
It is located in Houston Tx, Third ward section, couple of blocks away from the University.
The selles is asking $550 and after negotiations I was able to bring him down to 490K. The actual rental income right know is 4,375 a month but I believe that I can increase to 6K after stabilization. there are 6 units at 1bed/1bath each. I really need some advice before I agree to this deal.
Thanks in advance for all your help.
Hey @Alonso Guzman, welcome to the BP Forum! What kind of returns are you targeting after 5 years? With my clients, I focus on IRR or Equity Multiple - though I know some investors prefer to look at Cash on Cash, AAR, or ROI.