Updated over 8 years ago on . Most recent reply
Please check my math and thinking
Hi, Got a chance to buy a quad and wanted to see if you guys agreed with my math and thought process.
1 unit 2/1 rent $525
2 unit 1/1 upstairs rent $410
1 unit 1/1 downstairs rent $425.
Owner pays garbage & water/sewer. Seller said utilities run $150 per month but I can't believe that includes the garbage.
Taxes $1115 per year
The place was just completely renovated. All new electric, plumbing, roof, hvac. If I run
maintenance = $60
Insurance = $50
Landscaping = $50
Property Management = $175
Cap Expense = ???$50 (My thought is I am 50 years old. With everything new I'm not sure I really care about cap expense. Thoughts?
I'm not coming up with enough cash flow unless I leave out cap expense or plan on managing the place myself.
I can get it for $133k.
Thoughts??