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Updated over 3 years ago,

User Stats

8
Posts
2
Votes
Scott Littlefield
2
Votes |
8
Posts

First Possible Muli-Family Purchase

Posted

So, I am considering my first multifamily deal. Ive done several single family, but my first multi. This is a 3 unit in a C+ class neighborhood. I built myself a calculator to analyze deals and I wanted to run this property past you. My main concern is just the lack of actual cash flow after all hard and soft expenses are built in. I have not yet physically looked at this property, I will be looking at it tomorrow. The rents should be able to be raised. All three tenants are MTM and appear to be 25-35% below market value. However there may be a good reason why that I don't know about. I think all three units would need rehabbed to get maximum rent even though some smaller adjustments could be made without rehabs. See my calculations below.

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