Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

1
Posts
0
Votes
Caden White
0
Votes |
1
Posts

First time jumping in, need some help if I have an okay deal

Caden White
Posted

I have found a package of 2 buildings with 11 units in College Station, TX and they are asking for $600,000. My estimated mortgage for this would be $2,862-$3100 from what I can tell with 0% down. I'm interested in living in one of the units, there are 2 open, and 9 not terminated. The monthly rent excluding the 2 open rooms is $5,750. However on the rent roll it says 2 are pending disposition and 1 has a status of "Draft" which I'm not sure what that means. All 3 say no on active, so excluding them its $3,800 a month. One of the pending dispositions last paid a month ago, while the other last paid 2 months ago. The "draft" paid 4 months ago. The total income of the building was $52,400 while their expenses were $30,600 with a net of $21,800 from 08/01/2018 to 07/09/2019.

Looking through the CAD property search, one property is worth $213,458 and the other is $230,028 bringing their assessed value at $443,486. Tax for 1 is $5,435.20 and 2 is $5,043.67 for a total of $10,478.87 property tax.

Thank you.

Loading replies...