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Updated over 6 years ago on . Most recent reply
Request help with analysing a possible deal
I have one small multifamily and a condo. I bought the multi-family 14 years ago and turned the condo into a rental 9 months ago. I am excited to be on Bigger Pockets and am binge listening to the podcasts from 2013 on. I am looking at some affordable properties (all three are small multi-family) and wonder if I am asking my realtor the right initial questions. These are out of state properties in a location where I will be eventually moving to.
1. What is the tax appraised value
2. Is there a possibility of seller financing? If so, what is needed down and what is the interest rate?
3. What are the annual maintenance costs? (Average for last 3 years)
4. How long have the tenants been there and what is the lease structure of the current tenants? Is it month to month or 6months or a year and when does the lease end?
List Price: $48,900
List Price: $42,500
List Price: $30,200
Also, if all three cash flow based on the BiggerPockets calculator, how can I structure a deal to buy all three with minimal cash out of pocket. I really want seller financing, but is that the best way to go?
Thank you,
Darrell