Multifamily Michigan Loopnet Deal Analysis Review

[Mike Taravella]

Hello BP Nation!

Hope everyone had a wonderful and safe St. Patty's day!

I am a CPA who has 2 single family homes but looking to jump into the multifamily world to help recession proof my portfolio and potentially jump full-time into real estate investing.

I am currently looking to get started in multifamily properties so I started analyzing deals within Michigan so I started researching properties on Loopnet.

I leveraged the BP Tool for Rental Properties and was wondering if anyone wants to get coffee and go over my analysis and see if I am missing anything or being too conservative. Maybe partner on a deal!

Some of my assumptions that I had are:

• Vacancy Rate: 5%
• Repair & Maintenance: 5%
• Capex: 5%
• Management Fee: 10%
• Property Tax
  • I used SmartAsset.com based on selling price of the home
• Estimated Rent per unit:
  • Rentometer and leveraged Zillow listings

Thanks in advance for the help!

Mike