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Updated over 5 years ago on . Most recent reply

Neil P.'s profile image
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Neil P.
  • from Edison, New Jersey
  • Member since Aug 8, 2014
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Neil P.'s profile image
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Neil P.
  • from Edison, New Jersey
  • Member since Aug 8, 2014
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Neil P.
  • Edison, NJ
19
Votes |
80
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Multi-Family and Apartment Investing

Buying a 15 cap in a not so good area

Neil P.
  • Edison, NJ
Posted

I am buying an off market deal, the numbers come out to be a 15ish cap.

The neighborhood is decent, dont expect value to rise like the rest of the market.

The property has strong rental figures, around 10,500k a month.  Property selling for 500k, taxes 22k

Little work needs to be done.

What do you guys think?  I want to be able to get at least half my money on the refi.  What do you guys think?  

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Russell Brazil
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Russell Brazil's profile image
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Russell Brazil
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
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15% cap indicates to me some of the riskiest real estate in the entire country. 

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