Flog me or praise me: I'm interested in your feedback
I recently purchased 2 fourplex properties and undertook a massive renovation. This was biggest purchase in the history of my company. All the properties have new tile, bathrooms, kitchens, SS appliances, granite, redone floors, new paint inside and out, windows, new water heaters and HVAC systems in each unit. We rebuilt fence partitions, installed new LED lighting, new sidewalks and gutters and installed a community firepit. Overall the project took 2 months and cost 140K for the rehab and 295K for the purchase. I am interested in knowing what YOU think of the deal. It is located in Grandview MO and will be the nicest fourplex units in South KC and Grandview. It should provide maintenance free cash flow for years to come because everything is new. Here are the numbers:
Purchase: $295K 2 4 plex buildings
Rehab: $140K
Total: $435K
Rent: $795 per unit x 8= $6360 per month $76,320 per year
Taxes: $4100 per unit for both building
Insurance: $4200 per year
Water/sewer/capex/vacancy: $600 per month tenants pay utilities
Total expense= $15,500
Total net: $60,820
Most Popular Reply
Great job love hearing your story! I'm just getting started as well in the Grandview area.
Beautiful job. I think your numbers look good for this area