Updated over 7 years ago on . Most recent reply
20 unit property, deal advice
Im going to be buying a 20 unit apartment property.
im doing seller financing with 15% down on a 395,000 price with a 6% interest
monthly rent total is $8,215 when fully occupied, 17/20 are rented
monthly expenses:
water-1100
landscaping- 200
taxes-226
insurance-70
future property management -600-700
seller payment- 2400
total is 2500-3500 (set aside 25% for repairs and vacancy of that. total)
cash flow around 1800-2600
the property is real low maintenance, no washer/dryers, building is cinder blocks with concrete flooring,
there is more story to the property but this is just a rough snap shot of it.
good deal or no deal? thank you
