All Forum Posts by: Brandon Johnson
Brandon Johnson has started 2 posts and replied 6 times.
Originally posted by @Elizabeth Clyde:
Not for me. However, I always recommend reading "If You Can't Wholesale After This I've Got Nothing For You" by Todd Fleming...let it be your guide
@Elizabeth Clyde Okay thanks.. & Is it not enough equity in the home in your opinion?
Post: Is this a good deal? (16 unit Multi Family)
- Posts 6
- Votes 1
Originally posted by @Sam Grooms:
Those numbers suggest operating expenses and economic vacancy combined are less than $2,000 per unit per year. That is highly unlikely.
To get that low, you'd have to be running it yourself, and have a lot of deferred maintenance. Also, what does the county do with property taxes after the sale? Most counties can significantly increase them, like many counties in Texas. Here in Phoenix, we have law's preventing that
I’d have to research the county laws for taxes, didn’t think of that. Thanks. & I’ll negotiate further with the seller
Post: Is this a good deal? (16 unit Multi Family)
- Posts 6
- Votes 1
Originally posted by @Bjorn Ahlblad:
@Brandon Johnson welcome to BP! Based on the info provided the ask is high-100k or more.
@Bjorn Ahlblaf Thanks. 100k of annual profit?
Post: Is this a good deal? (16 unit Multi Family)
- Posts 6
- Votes 1
Originally posted by @Richard Sherman:
@Brandon Johnson What market is it in?
Tallahassee, FL
Post: Is this a good deal? (16 unit Multi Family)
- Posts 6
- Votes 1
Need assistance analyzing whether or not this is a good deal.
16 unit multi-family (1br/ba)
100% occupancy
Currently renting out each unit for $500 (about $100-$150 below market rents)
6.7% cap rate
Grade C area
Seller asking $875k
(Please comment if more are needed