All Forum Posts by: Jack Lupica

Hi @David Kiszka, thank you for the perspective. I have only seen exterior pictures of the building as of now, although I am touring it next weekend. The exterior looks very well maintained. The realtor has told me that the interior is also in good shape, just with dated cabinetry and appliances. Given the area though, Im not sure if remodeling the units will really provide much upside in rent as there is a hard upper limit in the area. 

Hi @Nate Monson, the cash flow I posted accounts for a 5% vacancy. Also I see i forgot to add that its a triplex, so each unit brings in around 700/month. 2 of the units have tenants who have lived there for at least three years, which is why I put the vacancy a little lower. 

I am looking at a building about an hour outside of Albany New York. It's in a small town of 8,000. Although the list price of the property is $79k, it is currently fully occupied and brings in $2,200 gross rent/month. It is in great condition and wouldn't require any initial repairs. After accounting for all expenses including a management company, it looks like it cashflows around $600/month. There is also a very large garage in the back that potentially could be rented out. 

While the town has low income, it is safe and has a very low crime rate. I do not foresee the property appreciating in value in the future, only keeping with inflation.

Is there anything I am missing here, or is this a good deal? I look forward to hearing everyone's thoughts.