All Forum Posts by: Vijay G.

 Thanks @Eliott Elias for the suggestion.

hello guys, any help in generating leads for offmarket multifamily 100+ units ? 

hey Jaylan, let’s connect. I m looking for off market deals. Thanks

Hey James, I’m interested in Cincy market as well. Let’s get connected.

Thank for your reply @Mike Dymski. Your operating expenses are on target at 41%. with 3rd party management fee op ex would jump to 51%. 

So with 3rd party management fee there would be no cashflow. we hope that property value increases over time. But at the risk of hitting with one huge CAPEX expense.

Thanks @Jesse L. Weaver for your response. We need to evict one tenant who is not paying rent. Eviction may cost $650 (it may take upto 4 months). That’s the risk of business up there. We’ll move forward with appraisal and inspection as contingency.

Last year Me and my friend backed out of off market deal 16 units @ 5 buildings price:1.037M in a population declining city which has 3k in population size. but i heard from town that rentals are always in demand. seller got the appraisal for all 5 buildings and they appraised at 800k.

Now seller came back and wanting to sell 1 building (7 units-13bed, 5 bath) for $405k. (25k down payment to seller and he is willing to finance the remainder 382k @ 6% interest (monthly payment $2800). 

I feel like this is a no brainer to take on the deal. Monthly rents: $5750, cash on cash return 1st year: 27%.

bad thing about this deal is we need to evict one tenant which cost us $650 plus 4 months of rent possibly. 

we are planning to move forward with this deal. Any advice on this experts ?

Great advice.. I would give the same advice invest in 50 unit bullding.

@Adam Bartling are you building 50 unit apt building ? what town ? 

Oh well cash is the king. You should not worry about 6% interest rate. Just pull out the cash and reinvest. Couple of years from now you will build more equity. And if the interest rates are down you can refi again. Good luck !