Need a second opinion on my evaluation of a rental property.

[Luis Arevalo]

I’m new to real estate and have never owned a rental property before. I’d like to get a couple opinions on my evaluation on a multifamily unit to see if my numbers are correct. Or if it’s worth it. Commercially Zoned Property with Multi-family Use. Tenants in place already.

I have the PDF report to send to anyone who would like to help me out.

Thank you!

[Bob Stevens]

Quote from @Luis Arevalo:

I’m new to real estate and have never owned a rental property before. I’d like to get a couple opinions on my evaluation on a multifamily unit to see if my numbers are correct. Or if it’s worth it. Commercially Zoned Property with Multi-family Use. Tenants in place already.

I have the PDF report to send to anyone who would like to help me out.

Thank you!

 KEEP IT SIMPLE, Take the gross income less total expenses, divide by PP. If you are happy with the net cap, buy it. For me my magic number is not less than 20% NET cap. 

I strongly suggest showing the deal to someone with experience and flipping the contract. If you decide to buy it I highly recommend hiring a PM co

All the best