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Updated 21 days ago, 11/27/2024
Need Advice- Multifamily 22 units apartment building
I currently own two multifamily units and am looking to take the first step in buying 22 unit apartment building. Here is the deal info:-
Apartment Budling with 22 units. Operating Expenses includes taxes, vacancy, utilities, insurance, maintenance, and management fee. There are long term tenants and 9 units have been renovated that bring additional rent. There is potential of renovating other units and increasing the rents.
Asking Price 6,795,000
Gross Rent 611,436
Operating Expenses 233,142
Additional Income 35,800
Net Income 414,094
Questions-
- How do I find a multifamily lender who can help me fund this purchase?
- What some ideal way to find investors to fund this deal?
- What should be the ideal duration of the loan?
- What would be ideal down payment to secure the loan?