Hello everyone, this is my first post on BiggerPockets and I wanted to ask some of your feedback on a deal I have been presented with here in MKE....
Ok so here’s the summary:
16 properties with 21 doors
Total cost ARV $385k
Annual income $142k
Cap rate 37%
Actual Payoff 2.72 Years
What that includes:
Renovations for vacant properties 50k
Adjusting rental rates to market value (avg. $750 for 2bd / 850 for 3bd / 1k for single family homes)
Insurance cost for each property
Taxes for each property
Refinance cost of $1.7k per month
Maintenance reserve of $500 per property
80% occupancy rate
Let me know some things that you may also consider in your calculations as this we’re just starting to add rentals to our portfolio as we have been rehabbing / flipping for the last 3 years!!!