Colorado Springs Rental 17 %unleveraged. 35% CASH ON CASH

[Joseph Graeve]

Looking for a partner/investor for a property I have under contract. This is a rental. it has tenants in it currently that are paying 1100 a month but we would be moving them out and implementing this strategy. This house is less than 3 miles from Fort Carson Army base as well as Pikes Peak Community College main campus. Because of those factors it will be perfect to rent out each room individually. there is one master with a private bathroom which i will be asking for 600 a month in rent. the other three will be asking for 550 a month. That is 2250 gross.  The master bedroom roommate will be vetted thoroughly and be given the role of property manager for 100 a month off of his rent. He will collect the rent and deposit it as well as call my contractor if something goes wrong and my contractor will send the bill to me. Vacancy is also low because you're taking the benefits of multifamily and putting them in single family so if a tenant leaves you only have 1/4 of income gone for a short amount of time.

It needs 18k for new floors, paint, kitchen and renovating two bathrooms. but other than that it is in great condition.
The cash on cash figure is taken from putting 25% down on a mortgage and getting a 4.5% rate on a 30 year.
UNLEVERAGED it is still a 17 CAP!

I could completely step out on this one and you could take over or put up just the renovation or however you would like to do it. I need $130,000.00 total to make it happen. We could pool a few investors together and do  a joint venture partnership also. 
Call me at 719-357-7497 and lets make this happen. Closing by the end of February.
or email at [email protected]

Annual Rent Income	$27,000.00
Monthly Rent Income	$2,250.00
Monthly Rental expenses
PITI total-mortgage pmt	$525.00
Maintenance monthly	$180.00
vacancy monthly	$90.00
Prop management monthly	$100.00
Total Monthly rental expense	$895.00
Monthly Profit	$1,355.00
annual profit	$16,260.00
Cash on CASH	35.74%