All Forum Posts by: Kenny Seagren

@Anthoney Hanks Thanks Anthoney! I am super excited about finding out if this deal would work or not. Just trying to find my way!

@Long Li I assume the income is gross, before expenses, that the landlord gets for rents, but that is a good one to double check. Is that repair costs to update the units because I believe the landlord already put in new kitchens, etc.? Is deferred maintenance the repairs the landlord has not done for the tenants that they are requesting for? I will start looking into lenders friendly to my sphere. Thank you!

An agent friend of mine found a decent property and I want to start running the numbers for some practice. It is a 5 unit mixed-use(4 apartment units, 1 commercial unit) generating $5,430 in rental income. List price $980,000. Below are some values I am having difficulty finding.

Closing costs. Seller already updated the units. Do I need estimated repair cost? Maybe for minor stuff? Points and other charges from lender? Mixed-use cap rates for Fairmount, Philadelphia? Fixed and variable expenses? Increase statistics?

Also, I might have an equity investor or several equity sources. What might be some methods to purchase and hold this property and possibly house hack it.

Kenny