First deal, about to make an offer! Here are the #’s...

[Lauren Huffaker]

This is a triplex for sale in my area and they are asking $310,000. I ran the numbers at 275k and the link is below. Thoughts? Am I missing something or does this look like a decent investment as long as inspections/rent roll/current leases look ok?

https://bp-v-newproduction.s3.amazonaws.com/uploads/calculators/shared_report/report_file/c5ad5cc3-27a6-4e9d-aaec-2965273b1b2b/report.pdf?X-Amz-Expires=601200&X-Amz-Date=20180512T153041Z&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAJ2DXENEECSJVAAQA/20180512/us-east-1/s3/aws4_request&X-Amz-SignedHeaders=host&X-Amz-Signature=0b88e98b3c16e8473bc354badad00e6d7c3d2b2331d1add3f0721ec4e5f59a66

[Lauren Huffaker]

The estimation of repairs I wasn't sure on. It didn't appear to need much work but I am novice at this so I am hoping to clarify the scope of repairs in the inspection period.  We offered 275k and they came back at 285k and I said that we were firm at 275k.  They came back a few days later and said OK, we'll take 275k.  It is an elderly couple who have had the property for 30 years and they're just ready to retire from the business.

What type of cash on cash return would you look for with that kind of investment?  More like 15%-20%?