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Updated over 6 years ago,
Investment Opportunity Kileen, TX Apartment Complex Funding
In Killeen, TX there is an apartment complex for sell at $285,000 currently. I'm looking for any help to find a way to potentially fund this and any opinions about whether the deal is any good. After running my numbers it looks like a great opportunity if I could find a way to fund it.
The property is two buildings with total units:
4 - 2bed/2bath --- which according to rentometer could rent at $550, so I assumed $500
10 - 1bed/1bath --- which according to rentometer could rent at $440 so I assumed $400
Total income - $6,000
Total PITI comes to about $1,800
And after assuming even $2,000 a month of expenses ... that leaves $2,200 in cashflow.
Any help on this would be greatly appreciated. I am new to investing and have been trying to get involved for about 6 months.
Thanks everyone
Aaron Gilmore