Updated over 16 years ago on . Most recent reply
4 in toledo ohio
This deal is coming off of a direct mailing campaign that i started.
it's 4 units in a two story brick building.
It was being used for housing for the mentally disabled but the owner wants to retire, he recently renovated the place but it could still use some exterior work. there's central heating no cooling, the windows need a little work.
He's selling for what he owes 100,000.
looking at the area the rents are about 500 dollars per month.
using the 50% rule for expenses this property cash flows at 100 per door.
what do you guys think and is deal?