All Forum Posts by: Wesley Wells

I recently stumbled on a apartment investment property in Memphis, TN and since this will be first deal I want to make sure my numbers are spot on in my initial analysis. Here it go.

Asking price - 3,950,000 (Assumable loan)

Year built - 1999 B property in B Area

# units - 98 (1 unit is a model, 1 unit is for a office, and 1 is for residential manager)

Gross Scheduled Income  - 816,912

Gross Income - 764,700

Expenses Reported - 373,480

Debt Service - 293,389

Cash Flow - 97,831

Cap Rate - 9.9%

CoC - 16.7

Debt Coverage - 1.33

I am also looking for any information I should be aware of when dealing with assumable loan. If you need any more information, please let me know. I appreciate the feedback.

@David VanWie I listening to the following podcast:

• Investing in Real Estate with Clayton Morris
• Get Rich Education with Keith WeinHold
• Real Estate Investing for Cashflow by Kevin Bupp
• BiggerPockets Podcast (Of Course)!!!
• Apartment Building Investing with Michael Blank
• Wheelbarrow Profits Jake & Gino
• Best Real Estate Investing Advice with Joe Fairless
• Investor Talk Radio by Curt Davis

Each one of these podcast offer a vast amount of knowledge in real estate. I can honestly say I love all of their content. Hope this helps!!!

@Chris Tracy The size of the apartments I am looking into range between 12-100. I also have looked into the Marcus Millichap resource outlining the emerging markets around the country. Fantastic Resource!!!!  

If you dont mind can you PM the investor group you worked with and why you had a a bad experience.  I will use this to be prepared incase this situation happens to me.

 Thanks Robbie for the feedback. I currently own Frank Gallinelli book and I will look into adding the other two books mentioned into my growing library this week.

Could explain the factor mentioned above "natural barriers to expansion"? 

Hi BP community,

First I would like to admit that my idea of picking a market for apartment investing was all over the place and I didn't really have a criteria defined to select a market. After listening to some real estate podcast,  I am in the process of reviewing market data to pinpoint which markets are the best for investing based on supply and demand.

I was wondering what market data should be analyzed when reviewing new market? Thanks in advance for the feedback!!!!

***investors.

It is good to see another newbie getting started in the real estate field.  Good luck and me to the list a potential 

Emmett do you have some more information about the property?

 James/Derrick,

Can you explain the classification of the areas. I have a generally idea, but I want to make sure my thought process is correct?