6 Unit Apartment Deal
Hey BiggerPocket Family!
I have my first apartment deal and need some advice on acquisition and exit. Its 6 units all 2 bed 1 bath rented at $850 (max rent I could increase to is 950 with updating) Purchase price 385k, (could potential update for about 8k per unit). Annual NOI 38k, DSCR 1.46, 10% cap monthly cash flow after expenses 1.2k. I don't want to tie up 100k (25% down) so are there any suggestions? Would you do this deal and how?