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Updated over 7 years ago on . Most recent reply

User Stats

73
Posts
37
Votes
Manmath D.
  • Investor
  • Spokane, WA
37
Votes |
73
Posts

Is this a good deal ?

Manmath D.
  • Investor
  • Spokane, WA
Posted

Found a 12 units listed for $595,000

Rent collected $79,920/yr

Expenses : 

Tax - $ 3299

Water : $ 4736/yr

Waste : $ 1320/yr

Electric : $ 12,240/yr

Total Expense : $ 21,595

I'm new to this and trying to grasp as much info as possible to get into Multifamily RE investing.

Looks like all water heaters were replaced less than 4 yrs ago. Roof replaced in less than 3 yrs ago. I'll put 20% down. Haven't looked at loan yet. Not sure what APR I'll get. I have excellent credit and 6 figure job.

Thank you 

  • Manmath D.
  • Most Popular Reply

    User Stats

    3,790
    Posts
    4,454
    Votes
    Cody L.
    • Rental Property Investor
    • San Diego, Ca
    4,454
    Votes |
    3,790
    Posts
    Cody L.
    • Rental Property Investor
    • San Diego, Ca
    Replied

    $600k for $6500/month rent.

    That's in the edge of my max ratio. I'd buy it if it were in an area I really liked and I was getting a competitive price per door relative to others in the submarket

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