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Updated over 7 years ago,
First buy, what do I need to know? Columbia South Carolina
Hey everyone, I'm asking on behalf of my mother. She is looking at buying a multi-family, here's the info I have.
Units: 9 (6 mobile homes and a triplex)
Asking Price: $170k
Gross Monthly income: $3,930
Lot Size: 1.31 SF
Cap Rate: 18%
Occupancy: 100%
Operating Expenses: $12k (although the owner does all maintenance himself which my mother certainly won't do.)
What other questions do I need to ask? When my mother walks the lot what should she be looking for?
Thanks for your help.