48 unit closing on Monday

[Andy N.]

Finally closing on my 48 unit complex on Monday! It's been a LONG process but it's finally coming full circle . I appreciate the input on a couple past post I made in reference to this deal.

[Andy N.]

It was listed for 980k I'm am purchasing for 900k. I got the sellers to agree to write me a check at closing for 21k for some repairs. It is being purchased with 20% down. Part of the down payment is funds funds from a 1031 exchange. It's a definite value add. I think I can easily raise rents $75 per unit over time. Some probably $125.