Any more-educated-than-my-own opinions on the listed property? As it stands it's just below 1% mortgage to rent ratio which I know isn't great. Any opinions on what others would offer would be much appreciated. Thanks!
It looks like a nice building. But there are always more factors than just the building and the price. Looking at the demographics at the bottom of the listing sheet, there is a 25% vacancy rate among the rentals!!! The median age is 23 years old!! I guess its a college type of town, but the vacancy rate is way too high. If you do not get the unit rented in August or September, you will most likely have the unit vacant for at least 9 months. That is a bunch of uncertainty.
With all of than said, I would offer about 40k per unit or 240k, provided the property is just about move in ready. There are so many more factors though. This would just be a rough idea.
@Matthew Castle - if you're planning to buy this based on the listing and advice on this forum, take a step back, learn some more before you jump in. There is a lot more that goes in to analyzing any property, and even more with a commercial deal like this. Good luck!
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing