Wisdom Of Numbers - To Buy Apartment Buildings

[Vamsi K.]

Hello All,

Me and friends/Investors are looking to get started in the real estate market . We are interested and have focused our thoughts into Multi Family and apartment complexes .

Before we take action I would like to have wisdom from the members on the numbers.  We are looking around Twin Cities and St Cloud area and have noticed that unless we get a great deal Property appreciation is highly unlikely .

What would be the best for us to balance appreciation / cash flow when offering on properties based on a hypothetical number.

Building A - 30 Units(Combination of 1,2 AND 3 BEDROOM UNITS)

Asking price $3.2 M -

Annual estimated rents - $315K

Area - St Louis Park

What might be the approximate costs and how much we should offer on this and what is the thought process for the offer.

Thank You in advance