Wow with just the numbers above you are up to 8500 bucks...I don't know much about land contracts but maintenance on 18 units is going to be at least 1000 bucks or more not to mention vacancies, and if you have a major issue...I would pass.
Wow with just the numbers above you are up to 8500 bucks...I don't know much about land contracts but maintenance on 18 units is going to be at least 1000 bucks or more not to mention vacancies, and if you have a major issue...I would pass.
This sounds like a deal that was recently posted on Craigslist for several properties in Greenville, MI. I did some checking into it and decided to not even bother contacting the seller.
Brad
Is your intent to buy and hold the properties for cash flow purposes ?
If so I would echo what Kyle said, unless there is some way to value add to the properties to increase cash flow.
What aother expenses does the current landlord have? You are not accounting for regular maintenance, any utilities (water, trash, sewar) vacancies , or CAPEX. just estimating 10% for each of these put you in aegative cash flow each month
do you have a current rent roll for the