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Updated almost 8 years ago on . Most recent reply

George G.'s profile image
George G.'s profile image
George G.
  • from Houston, Texas
  • Member since Nov 28, 2016
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George G.'s profile image
George G.'s profile image
George G.
  • from Houston, Texas
  • Member since Nov 28, 2016
Connect
George G.
  • Houston, TX
1
Votes |
12
Posts
Buying & Selling Real Estate

Question about 24 unit building in Houston

George G.
  • Houston, TX
Posted

Hi guys, my partner and I have submitted an offer on a Class C, 100% occupied building. 1969 built. Roofs done in 2003.

The NOI shown to us (without insurance) was $125k.

The asking price is market. We figured about 45k/door? Pretty centrally located. The numbers work well using a 55% expense ratio (although expenses shown for last year are about 30%).

Any suggestions on how to price for the LOI?

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