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Updated about 6 years ago,
Getting ready for my first Multifam Deal- pointers?
Hey guys,
I am excited to announce that I have found two properties that fit my investment goals and now I have to pick one .
One is a 37Unit/Asking price 880K/Family owned and listed/cap is ~11% ( or 15% if I can negotiate down to 600k) ( they bought it in '83 for 85K). No seller financing. Super sweet older couple. Room for growth in NOI. Located in Rural NC.
The second is a 11U/asking 575K/flipped last year/listed cap ~10% ( or 12% if I can get my price of 525) , seller financing available with 30% down at 6%interest over 20 years amortized. No room for growth other than marginal rent raise. Located in urban Florida.
Which do you think sounds better?
And how would you go about financing these deals?
All supportive feedback welcome!