All Forum Posts by: Corky Bless

Really?  Because the bank didn't seem to think so when they appraised them 2 years ago.  Love the trolls!  If the numbers don't make sense then just keep shopping deals @Jameson Drew Cheers!

My property manager will be setting up a showing for both the 3 and 4 unit properties on Monday November 20th at 12pm...if you are in the area or have someone that would like to view then you can go at this time...thanks!

My property manager will be setting up a showing for both the 3 and 4 unit properties on Monday November 20th at 12pm...if you are in the area or have someone that would like to view then you can go at this time...thanks!  

Great property in Muncie just a few short miles from Ball State University.  Fully occupied with local management in place.  New roof in October of 2015.  Great performing property, always leased and very little maintenance.  I also have a 4 plex next door to this one.  Qualifies for conventional financing easily.  Let me know if you have any questions!  I'd prefer to sell this one direct to an investor vs putting under contract with a wholesaler.  Thanks so much.  

Fantastic 4 unit in Muncie Indiana just a few short miles from Ball State University.  Fully leased, great performer and very low maintenance.  Cap rate on this one sits right at 24%...really great investment opportunity and qualifies for standard conventional financing.  Cash-on-cash is out of this world if you buy with financing.  Please message me if interested!  I also have a triplex next door with similar numbers--both have been great performers.  

Anyone know of an insulation contractor that does the injection foam insulation? I am having a bear of a time finding someone… I have called three companies and not one of them have called me back!! Please advise--thanks!

12 unit apartment complex (2 six unit buildings side by side).  Single story, cinder block construction.  Unit mix is eleven 2 bed 1 bath units, one 1 bed/bath unit (other bedroom is community coin op laundry for complex).  Presently 3 section 8 tenants and 3 market tenants.  Recent property manager switch and ALL remaining units will be rent ready by the close (4 already are).  Durable vinyl flooring in all units.  All individually metered for water/electric and tenants are responsible for their own utilities (no gas at this property).  Property is in excellent condition with all units being rehabbed within the last year.  Roof is only 5-6 years old.  Property was built in the mid 50's so it's not a money pit of maintenance.  

Please shoot me questions on the property.  Seller would prefer a cash sale, however there may be an option to assume the $150,000 mortgage that is on the property.  Please see attached financials based on 90% occupancy.  With leverage this property is North of 20% cash-on-cash.  

Message me for the flyer/financials if the link does not work and I will send it to you directly.  

Flyer and financials for Indy 12 unit

@James Drew How long have you worked with Dan Norton?  Thank you for the info...and thank you Tricia for posting!  

Full...flyer is here: 

https://www.dropbox.com/s/4m5dtqgh91yo0jr/12%20Unit%20Property%20Flyer.pdf?dl=0

Looking to sell a 12 unit complex we have taken and turned around...we put forth the effort of making this property rent ready (and are in the process of filling it with GOOD tenants now--as of this post we have 6 of 12 rented and showings are frequent). VERY low maintenance property. Roof less than 5 years old. Cinder block construction, vinyl flooring in all units (10 year life at the minimum) List price is $350,000, slab on grade (no basements to leak and worry about). Average rent is $525/unit (eleven 2 bed 1 bath units and one 1 bed 1 bath unit). Has ample parking out back. Each unit individually metered for electricity (all electric systems, newer furnace and hot water heaters in units). Remote surveillance system--VERY handy.

We have an excellent property manager in place who is fair and honest (believe me, this is rare in Indy and I speak from painful experience). I also have a lender that will lend up to 65% of the purchase price if needed (commercial lending has been a bit tricky I've found). Excellent opportunity to own a commercial multifamily property that is in fantastic shape. Please message me with questions and comments!

Please download the flyer here (copy/past to browser if it's not a link) 

which includes cap rate and cash flow analysis:  

https://www.dropbox.com/s/4m5dtqgh91yo0jr/12%20Uni...