Updated over 8 years ago on . Most recent reply
Need Help! Analyze My Deal-First Multifamily
Hello, I am analyzing a deal and would love some advise or feedback from newer or experienced investors. I have included a link below to the bp calculator. This is my first deal and it will be newly renovated before closing so I may be overestimating the cap ex and repairs etc.
https://www.biggerpockets.com/calculators/shared/7...
The property is a 3Bed 3900+sqft Tri-family with tenants on the first floor at 1150 per month. The second and third floor would rent for 1100 at a minimum and upwards of 1300-1400 with sec 8. Currently the 2nd and 3rd floor are stripped and will be renovated by closing.
My strategy would be a buy and hold and the loan is FHA which means I would have to occupy the property during the first year.
If the link to the calculator does not work please let me know and I will list out the #'s.
If this is a good deal your advise and encouragement would help me pull the trigger. I have viewed and analyzed many, this one seems to make sense.
Your help is appreciated!