18 Unit - Is This A Good Deal?
This is my first multi-unit deal and am looking to partner with a friend for this one. Consists of 17 2 bed/1 bath & 1 unit with 1 bed/1 bath.
Here are the numbers:
Asking - 800,000
Gross Rent - 115,500.00
Total expenses - 41,069
(Taxes, insurance, repairs, utilities, trash, pest ctl, marketing, etc)
NOI - 70,881
We are planning to use a management company to manage this property for us. From the numbers provided, is this a good deal? Please advise.
Thanks in advance.
Aaron
[ Edited by mrcoolxyz on Date 02/08/2005 ][ Edited by mrcoolxyz on Date 02/08/2005 ]
Larry,
.
Point well taken. I have been reading quite a bit about analyzing a property, but I guess I need to learn more. I will look into the course you mentioned and thanks for the article. My goal is to build up equity and and use leverage to buy more properties.
Thanks once again for your advise. Will keep u posted
regards,
Aaron