All Forum Posts by: Tony Whitaker

@chrisgrenzig Wow! Thank you for that explanation. It makes sense, but I have no intention of buying something like that. If I have to ask what all of that means I have no business trying to make a deal like that. Great to know for future information.

Thank you so much for your help.

Hello Everyone,

I am brand new to learning the investing game, I am trying to build a knowledge base while also trying get into position to make deals (saving money, credit, knowledge etc...) I copied an ad for two complexes near me with 50 units total. I have no clue what any of it means. I would appreciate it greatly if someone could explain what the ad means. Ad pasted below.

Vanguard Real Estate Advisors is pleased to present the opportunity to purchase Town & Country and Simpatico, a value-add multifamily opportunity totaling 50 units in the heart of West Texas in the city of Midland. Located less than one-mile from one another, the Properties are strategically located and have been well maintained by current ownership. Both Properties feature full-size washer/dryer connections, swimming pool and covered parking.

Built in 1968, Town & Country is located at 3310 Bedford Avenue and consists of 25 units that average 897 square feet. Town & Country can be purchased at a 9.50% cap rate on in-place financials, adjusted for taxes and replacement reserves above the line and an 11.55% cap rate based on pro forma NOI. In-place cash-on-cash returns are projected at 17.5% at an asking price of $1,550,000 and 24% based on pro forma assumptions.

Built in 1967, Simpatico is located at 2910 W. Michigan Avenue and consists of 25 units that average 773 square feet. Simpatico can be purchased at a 9.60% cap rate on in-place financials, adjusted for taxes and replacement reserves above the line and a 10.68% cap rate based on pro forma NOI. In-place cash-on-cash returns are projected at 17.8% at an asking price of $1,500,000 and 21.3% based on pro forma assumptions.

Significant upside exists for a new investor through an increase in market rents and a reduction in operating expenses to market norms.

A co-brokerage fee of 2% is available to a Broker that sources and registers a Principal that neither Vanguard nor current ownership have previously contacted regarding this opportunity.

Seller prefers to sell the assets together as a portfolio.

Thank you for the reply Matt

Hello everyone!

Our landlord offered to sell us a quadplex in Northeast Arkansas. It has 2 units with 3 bed 2 bath and 2 units 2 bed 2 bath. Rent is $800 for the 3bed and $700 for the 2 bed. Currently, my wife and kids live in one but we are transitioning to Texas so wont live there forever. It is being offered at $280k and is appraised at $312k. Area is near steel mills and dont stay empty long because of the industries in the area. Honestly, I don't have anything to put down and rebuilding credit from a layoff I went through 2 years ago. What are my options? If I have no options I get it.

I have always wanted to get into but never went for it as many others. I appreciate everyones responses.