Off-market 8 plex Georgia Deal Analysis

[Byron Scott]

I usually look into small multifamily. I need help analyzing this 8plex built in 1996. Roof looks good vinyl siding looks good. All utilities are separated. Current rent is $650. Market rent is $800. Owner lives far away and property is managed from a distance. What can I do to make this deal work? How much do you all think I should offer? Thanks!

[Byron Scott]

Thanks for bringing those things up Eric. I have really only been analyzing small multifamily. I'm house hacking one right now and saving up money for my next property. I have just been trying to wholesale or find properties and add value to other investors. So I have been cold calling. This is a deal that I ended up pitching to 2 buyers and both were interested. I didn't know if it was worth pitching at that price because I didn't know how to analyze +5 unit real estate deals. Those are all great points and things I will look for when calling owners and any future deals I run across.