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Updated about 7 years ago,
Need help with purchase price **12 units and 55 storages**
Hey guys,
Been following bigger pockets for a few years now but this is my first post. I currently own 29 multifamily units located in Southeast Texas.
I need help from you guys determining a purchase price for a property.
I have someone who's going to owner finance me their properties. She's selling an 8plex, 4plex, and 55 storage units. I realize it's hard to determine price without y'all seeing the properties, but they're all in above average condition. I'd call them B+ class.
Here's the breakdown:
8 plex is 4 2b/2b, and 4 2b/1b. Gross monthly rents are $7,200/month
4plex is all 2b/2b. Gross monthly rents are $3,000/month.
55 storage units are fully rented grossing $3,500/month.
Again, I know it's hard to come up with price based off just numbers but hoping for some help.
Th seller has recently inherited these properties and so she wants me to come up with my purchase price. She's not going to be fooled and understands the market is high right now, so it has to be a fair offer. Based off the rental income, let me know what you would pay for them.
Thanks guys!
- Dustin