All Forum Posts by: Tim N winters
Tim N winters has started 1 posts and replied 3 times.
Post: looking for some guidance on a deal.
- Evansville, IN
- Posts 3
- Votes 1
it has utility, grounds, maintenance and replacement cost. (it what was on the 17 yearly report)
it was owner managed until late 16. when the property management team came in they made major changes and repairs.
out of the 9 units the longest tenets is only 2 years most are only 1 year.
Post: looking for some guidance on a deal.
- Evansville, IN
- Posts 3
- Votes 1
on if sound like a decent deal.
its in a decent working class area. (guessing it would be B class)
Post: looking for some guidance on a deal.
- Evansville, IN
- Posts 3
- Votes 1
i am looking at pair of quad plex units on the same property.
they are asking $330,000 for the pair
the first chart is off the sellers numbers
| Monthly | Annual | |
| Income: | $4,500.00 | $54,000.00 |
| Vacancy (10%): | $450.00 | $5,400.00 |
| Management Fee (9%): | $405.00 | $4,860.00 |
| Property Tax: | $483.33 | $5,800.00 |
| Total Insurance: | $208.33 | $2,500.00 |
| Maintenance Cost: | $1,666.67 | $20,000.00 |
| Other Cost: | $375.00 | $4,500.00 |
| Cash Flow: | $911.67 | $10,940.00 |
| Net Operating Income (NOI): | $952.17 | $11,426.00 |
i adjusted the number and added mortgage payment
| Monthly | Annual | |
| Income: | $4,500.00 | $54,000.00 |
| Mortgage Pay: | $1,409.16 | $16,909.88 |
| Vacancy (10%): | $450.00 | $5,400.00 |
| Management Fee (10%): | $450.00 | $5,400.00 |
| Property Tax: | $483.33 | $5,800.00 |
| Total Insurance: | $208.33 | $2,500.00 |
| Maintenance Cost: | $1,250.00 | $15,000.00 |
| Other Cost: | $416.67 | $5,000.00 |
| Cash Flow: | $-167.49 | $-2,009.88 |
| Net Operating Income (NOI): | $1,286.67 | $15,440.00 |
i over figured vacancy to cover one unit empty per month.
other cash flow covers trash and water
there are a total of 9 units.
i know i am problem not giving you enough info
this would be my first investment property and i am a little gun shy of the deal