All Forum Posts by: Keven Vanegas

@Zach Melson your calculation is off, you did 87.5% and not 8/75%

You calculation should be:

NOI / CAP ...... ($2194 * 12) / 0.0875 = $300,891

It sounds like it may be a good offer... but Im very inexperienced.. lol let us know what you do!

George Despotopoulos Are you lending all over? I'm in the South Jersey market. We are trying to work on a deal now for a 7 unit multi family. This would be our first deal, is it worth trying you guys out?

Welcome to the family! This site has tons of information and great people to give you advice. Check out all of the features!

house is actually built in 1936

@Grant Sample lol sorry those numbers are for a fully rented out unit, this is the cash flow once I move out of the house and get another tenant in there. My only reservation is the fact that it has been sitting for that long. Maybe he doesn't want to go below his asking price? I'm not sure. It doesn't have an oil tank and I checked the property out myself and didn't notice anything major. Some cosmetic work will be needed but that's what I expect

The AVR maybe a little too high, but they are asking 219k for the property and I'm hoping to get it at the price above. This building is in a historic district and was built in 1964. I will double check the rent prices again but I cross referenced with a couple of locations and I'm around the area with rents, even if I drop the income down another $3-400 I could cash flow close to $2k a month. I have been considering this property for a while. Has been for sale for over 200 days 

this is a quad plex in a decent neighborhood. 1 3bd unit, 2 2bd unit, and 1 1bd unit. Got the average rent prices from rentometer.com

I used the bigger pockets analysis tool to plug on those numbers. The exact size of each unit I do not know but I'm hoping that's good enough info 

Hey BP!

I am a newbie to rentals and I don't want to get stuck in "analysis paralysis," help me analyze this deal and let me know if its good or not. If you have any more feedback to give me feel free to spill the beans!

Thanks!!!

Yes, this will be the first property, so I would live there and rent the others

Thanks for the replies. Really appreciate it. 👍🏽