Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago,

User Stats

39
Posts
20
Votes
Oliver Sparks
  • Rental Property Investor
  • Paola, KS
20
Votes |
39
Posts

My first multi-family, wanting a partner

Oliver Sparks
  • Rental Property Investor
  • Paola, KS
Posted

Most of my interest in REI has been geared toward single family residences. However, I came across a building with 4 apartments that I have interest in. It resides in a college town with the asking price of just over $110k. It has a new roof, plumbing, electrical, sump pump, hot water heaters, flooring in kitchens & baths, sewer line from building to main all within the last six years. And the tenants pay for electricity and gas. They state that the current gross income is $1450 a month. I don't have any rentals in the area myself to compare with, but one single 3br/1ba family house I found is advertised for rent and asking $750 a month not far from this property. This would be my first experience dealing with a multi-family residence, so I'm looking for a mentor/partner to fund and who could walk me through the process in exchange for split profits. Any takers or advice?

Loading replies...