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Updated almost 6 years ago,
Great deal but can't find partner, why?
Hello B.P. community. I have a quick question,well actually two. I have a opportunity for what I see as a great deal. Well at least I think it is;). Here is a quick rundown.
House-2/1
Apt.bldg.#1- 5units-(2)2/1, (3) 1/1
Apt.bldg.#2- 4units- (4)1/1
Cash flow - (currently $4K month not including house)also rents are below average raising the rents( conservatively ) but keeping them under the median range will raise the cash flow to $4,500+ month still not including house!
Repairs need- est.$5K(2K metal roof sheathing, $2k septic chamber, $1K unforeseen issues)
Purchase price $335,000(all 3 properties included)
So what do you think B.P.community, is this a good deal? And if it is why am I having such a hard time finding a financial partner for a buy and hold? Thanks for you help in advance!