Posted by Bud Branstetter on April 30, 1999 at 15:06:20:
As the comments have been lately-be embarassed to offer all cash at say-$130,000. An owner financed offer is also in order that would be closer to asking. Maybe cash plus owner financing. How about creating some seconds on the SFR’s and trade for part of the equity in the new properties.
Yes, the figures show promise.
Possible 8-plex Purchase - Posted by Ted Bowen(OK)
Posted by Ted Bowen(OK) on April 30, 1999 at 12:44:05:
I am looking at 2 4-plexes for purchase and this seems to be a fair deal to me, but being that this would be my first multi-unit purchase(although I have serveral SFR) I would appreciate somene else’s opinion. This property appears from looking at the outside to be in good shape and not a lot of deferred maintenance is needed. I will be inspecting the property closer next week. Here are the Details:
Asking Price 164,000
Current Rent 8*350=2800.00/month 33,600/year I believe this rent to be low for the area but I will use it to be on the safe side. 100% occupied
Gross Rents 835012 = 33,600
Expenses 33,600*40% = 13,440
NOI 33,600-13440 = 20,160
CAP= 20160/164000 or 12.29% This assumes that I pay full price. I think I can get this for 150,000 which may the CAP rate 20160/150000=13.4%
If am figuring all of this correctly this seems to leave an acceptable amount of money for debt service.
THANK YOU VERY MUCH FOR THE RESPONSES AND GOOD LUCK WITH YOUR RE INVESTING
Re: Possible 8-plex Purchase - Posted by Bud Branstetter
Posted by Bud Branstetter on April 30, 1999 at 15:06:20:
As the comments have been lately-be embarassed to offer all cash at say-$130,000. An owner financed offer is also in order that would be closer to asking. Maybe cash plus owner financing. How about creating some seconds on the SFR’s and trade for part of the equity in the new properties.
Yes, the figures show promise.