All Forum Posts by: Brian Miller

This 4plex is in Philadelphia and the owner wants 269k. Gross rents last year were $31,200. It needs roughly 40k in rehab to increase gross rent to $37,200. It also has 2 garages that can get $125/mo a piece but were not rented. The numbers look good but the property only has 1350 SQ feet total which makes this property 207/SQ foot when the average SQ foot price for the area is 135 SQ foot.Will this cause a problem for building future equity and refinancing in the future with the SQ foot price being so inflated? 

Does not seem like a profitable deal. Is the total rents $1800 or $3600? Even at $3600 it is in my estimation $100k+ over priced. Personally I wouldn't even consider it. That is way too much cash to put out just starting out. Whynot go get 20 units with the 500k down.