All Forum Posts by: Michael V.

Hey Bigger Pockets,

I've taken a long break from wholesaling but now i want to get back into it. I'm now located in Las Vegas NV and i would like to partner with local wholesalers in the area. Can anyone point me into the right direction of a few wholesalers with property in the Nevada area.

Thanks Again
Vincent Pitt
We Pay Cash Atlanta
202-656-0217

Hi BP, Is this a good Investment? Me and my 2 partners are thinking of putting funds together for this deal in particular. I realize there are many excess expenses not listed but more or less this what i came up with being that this will be my first Large Multifamily purchase.

Fox Hall

Price	$1,400,000	Property Type	Multifamily
No. Units	45	Property Sub-type	Garden/Low-Rise
Building Size	36,712 SF	Property Use Type	Investment
Price/Unit	$31,111.11	Cap Rate	12%

Facts:

Scheduled Gross Income: $267,420

Scheduled Monthly Income: $22,285

*taxes - $18,706

*maintenance - $45,000

*property management - $26,742

*miscellaneous - $10,000

Estimated Expenses: $100,448

Annual Net Operating Income: $166,972

Monthly Net Op Income: $13,914.33

Description:

The Fox Hall Apartments feature 45, one, two and three bedroom units in 6, Two-Story Apartment Buildings, Plus 1, Single-Family House built in 1963 with Leasing Office and Laundry Facility. All 45 units in total are fully occupied and rented. This complex is also located a few blocks away from Clayton State University.

If Financed:

Cash Down 20% - $280,000

Financed 80% - $1,120,000

With 5% APR and 30 Year Amortization Monthly Payments are an estimated $7516.00

Cash Flow:

Monthly Income $6398.33

Annual Income $76,780.00

*** 969 Forest Ave Forest Park GA 30297

@Don Konipol

@Jay Hinrichs

Thanks for the advice but how would i go by doing an expense analysis. Are there any tools you all use for that in general? It seems impossible to find numbers on maintenance unless they're given by the owner

@Kevin Fox 

yes, the vacancies are accounted for and expenses are very low which is why it caught my attention.

Looking into this property. In need of a second opinion.

Operating Expenses (including annual taxes, maintenance and property management): est. 40,000

Annual Net Operating Income: 122,400

Monthly Income: 10,200

Coin laundromat on premises

If Financed:

Cash Down 20% $150,000

Financed 80% $600,000

With 3.5% APR and 30 Year Amortization Monthly Payments are $3367.84

Monthly Income $6832.16

Annual Income $81,985.92

Photos located at:

macon.craigslist.org/reo/5411872240.html

PRICE ADJUSTED TO $10,000

For photos of the property. 

http://atlanta.craigslist.org/eat/reo/5409125639.h...

4BR / 1Ba 1400ft2 available now

Ranch style house
off-street parking

Slam Dunk Deal In Macon !!

ARV - 51,000
REPAIRS - 10,000
YOU PAY- 15,000

House is vacant

Next to Macon State College!

Great rental property investment!

 Thank you Tim, I also should have mentioned that I post a link that has pictures of the property.