21 Unit Apartment Complex Questions

[Emily Du Plessis]

Hey all,

My husband and I have been fairly active in buying and managing single family properties in the areas we live (actually we just bought our first duplex last week!) and currently own 6 properties that we have rented out for the last couple years. A new 21-unit property just came on the market in the town we live in and are interested in progressively moving to the next level.

That said the price tag is $635k and we thought this might be a great opportunity to learn/inquire about private capital/equity structuring from the community here. We hear and see deals that are being done all the time by members in the forum with private capital and wanted to pick your brains on the topic.

Some quick numbers which might help lead the discussion (based on what we know now):

Price: $635,000

Taxes: $19,000

Units: 21 1 Bedrooms and full kitchen and bath

Rent Estimates: $400-500 (we are asking for the details on these).

What other critical numbers might you be looking for?

What type of partnership or private equity structure might work best in this situation?

Any help and insight would be greatly appreciated :)

Thanks in advance!

~Emily