My first multi-family investment....thoughts, advice?

2 Replies

Hi BP family

Came across an off market deal in Goldsboro, NC and it will be my first multifamily and it's unique. Not sure how analyze it. There is a SFH 2 bed 2 bath and 4 mobile homes on the same lot which is 1 acre. All zoned properly and currently all units are rented including the house. I will not be living in any of the units. Do I add the total rent for all units and put that # in the calculator? expenses and vacancies individually? The house rents for more then the mobile homes and 2 mobile homes more then the other two because they are bigger. Also, age of house is different then mobile ones. Any comments are appreciated.

Thanks in advance

Debbie

Debbie, here is how I would analyze: for every loan, I'd analyze the revenue and expenses associated with that loan.

In other words, if this is one [1] loan, I would add up all the gross revenues, subtract out all expenses and vacancies and repairs to get a net number. If it requires individual loans, break these items out by the property.