All Forum Posts by: Jaime Wright
Jaime Wright has started 3 posts and replied 3 times.
Post: Help me evaluate this deal
Jaime WrightPosted
- New Orleans, LA
- Posts 5
- Votes 1
I’m evaluating this 5 unit building in Milwaukee Wisconsin. The building is currently rented at $2525. It has 2 - 2 bedrooms and 3 - 1 bedrooms. Building seems to be underrented. My CASHFLOW doesn’t seem LIKE MUCH OR NEGATIVE. I’m going TO OFFER $125K and do $15K UPGRADES.
Mortgage - $1310/mth
(30 YRS, $140K, $3600/YR, $1500/YR, 6.5%)
Taxes - $3600/yr
Insurance - $1500/yr
Utilities - $425/mth (owner pays heat and water)
(verfied by Weenergy and Water works)
Property Management - $375/mth
Repairs and Maintenance - $650/mth
Cap Ex - $300/mth
THEREFORE,
INCOMING -$2525
MORTGAFE - $1310
PM - $375/MTH
UTLITIES - $425/MTH
RM - $650
CAP EX - $300/MTH
Balance is NEGATIVE -$535 PER MONTH.
Looking for POSITIVE CASHFLOW OF AT LEAST $500/MTH.
What would you offer?
Post: Handling Utilities in Multifamily
Jaime WrightPosted
- New Orleans, LA
- Posts 5
- Votes 1
I’m looking at purchasing a my first Multifamily apartment 4 unit or 8 unit. One thing I noticed in these older buildings is most time utilities is NOT separated. Therefore, heat, gas and water are ALL paid by landlord. How are you guys handling this issues since these items can vary wildly? Would you still invest if they were not separated? Are you are sub metering? How much does cost typically to separate especially gas and heat?
Post: [Calc Review] Help me analyze this deal
Jaime WrightPosted
- New Orleans, LA
- Posts 5
- Votes 1
*This link comes directly from our calculators, based on information input by the member who posted.