All Forum Posts by: Thomas Shaw

I can't believe I left off the price. 344,500 and the agent said there is likely some room for negotiation.

As for financing, I think I would plan on going the bank loan route and put as little down as possible, probably 20%.

And thank you, I'll give the city a call tomorrow to get some better numbers.

Sorry for the second post, the listed NOI is 45588 and the average cap rate for the area seems to be high 9%s to low 11%s, both according to loopnet.

Hello,

I recently found a property that is a 9 plex. It's 5 1 br/1ba units, and 4 2br/1ba units.
From my best research the 1 brs will bring in around 550-600 and the 2 brs will bring in around 750-800 for a total of around 5750-6200.


The information I have says it is fully rented out and the landlord pays trash and water. I'm not totally sure how much these would typically run. This is in a smaller city(maybe 50k people) in Texas maybe 45 minutes out of Houston.


The tentative numbers I've estimated seem to indicate it's a good deal, but I'd love to have a few more eyes on it.

What information could I provide you guys to help?

Hey guys, I was running some numbers today and would love if someone could double check my assumptions for this place.

This is the BRRR report from the calculator. Let me know what other details you might need to see if my numbers make sense at all. I'm not very familiar with doing this yet.

https://www.biggerpockets.com/calculators/shared/1...

You've definitely pointed me in the right direction. Thank you Tiffany.

I guess just sort of general information. Do they tend to have any special issues with vacancies, or more maintenance due to the type of renters? Do they require anything special that a normal home wouldn't need? Inspections? Permits?

Hey guys,

A deal was recently brought to my attention. It involves section 8 housing. Does anyone in the area have experience with these? I'd love to pick some brains and/or show you the deal to see more experienced thoughts about it.

I'm available.

That is essentially what I determined as well. The 120 days was definitely conservative(I think I may have even gotten that number from the little question mark in the calculator). But yeah, the price tag on the property really seems to eat away at the profits quite quickly.

I'm really glad someone else came to the same conclusion I did. I appreciate you taking your time to look at this. Thank you.

Sorry about that. Try this link. I don't put files online for others to download very often. I think you just have to wait 30 seconds for the actual download link to appear. Click the grey button, then click the "I'm not a robot" box, and then the blue "continue" button.

First link is the BP results, the second is what I was emailed.

BP calculator results

Packet sent by wholesaler

Any and all help would be greatly appreciated.