All Forum Posts by: Omar Handson

 22 units = $10350

Vac loss 7% = $725

Rent gross= $9625

Operating Expenses = $3700

NOI = $5925 ÷ 12% cap = $49375 × 12

The value of my property rented

$592,500

The property sits vacant as of now .

And I still owe the previous owner 100k through ower financing.

I'm a electrician by trade and my plan was to make the major repairs ( electric, plumbing, roof ) when i could or had the time and i Just recently spent 55k updating the electriaI service with my own cash.. New metering and panels for each unit..

WelI got wind of a major neighborhood redevelopment project in the works right across the street from my building.

500+ unit apartment complex with mix use live and work space with restaurants and retail...

So let's just say my plans change a bit....lol

So I need financing to speed up the pace and match my rental property with the development being built in the area..

Where do I start..  ???