All Forum Posts by: Mark Milan

Additional detail. Financials are erring on the conservative side. Some of the rents are below market so there is EASY improvement here. I always under-promise and over-deliver than the other way around. My reputation is my most valuable asset!

Hi Andy-

Thats a nice return.

For this, numbers are assuming 30% down and 5% interest loan. If you want to see the detailed financials drop me a PM. Many inquiries.

Mark

Thank you all for the PM's. Please remember to include an email address. I need to send NDA and Financials… PM does not allow me to attach documents.

Price $138,500

Gross annual rent: $39,060

Income after 5% vacancy: $37,107

Annual Op Ex: $17,301 (incl maint and mgmt)

NOI : $19,806

30% down + approx closing costs $43,550

Annual debt service @5% = $6,245

Net Annual Cash flow: $13,561

Annual cash on cash ROI: 31.14%

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This is a sweet investment with abnormally large returns especially considering the effort it involves. This single level apartment building is near Indianapolis, IN. Little to no repairs needed. Well kept, owned by an older woman who is ready to relax and cash out. 8 units rented. Unit #9 has been used for owner storage but can be rented with minimal effort and investment. Full financial profile is ready for presentation. If you are interested you must: be ready to sign NDA and ready/able to close quickly.

PM me with inquiries and please include an email address that I can send NDA and financials to.

Would love to hear the final outcome. Good luck to you!!

Not enough information to say much on this. You need a detail of all the annual expenses: taxes, insurance, utilities, maintenance, (management - if not self managed), and anything other expense. You also need the occupancy rate (everyone will say 100% occupied, but that is never true). Then you need the rents. Multiply the rents X the occupancy rate and you have your annual gross income. Then subtract all your expenses and you have your NOI. Then subtract your cost basis for money (the interest you will pay - you said she will finance, so consider her terms). Then you have the income #. Then you can start to make some judgements as to what you would be willing to pay.

As for fair rents: go to www.rentometer.com to start doing your homework on fair rents for the area.

Will do my best to get there. Thanks!

There they are!!

Thanks for the PM's all. Looking forward to working with you.

Off market multi unit cash flow deals are what I do - what I love. If you are actively looking to buy I would like to network with you. I do wholesale deals. I buy with JV partners and execute on value add and turn around plans - for hold or for re-sale and nice equity grab. Please tell me your criteria so I can find a win for you.

I also seek private lenders who want above market returns secured by solid cash flow assets - inside or outside of self directed IRA.

@Jon Holdman - please see PM and hit me w an address.

@J Scott - emailed info.

@Joel Owens - Please see my partner's post on this deal above : Kurt S. Let me know if you have more questions. If you want pro forma info please let me know