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Updated about 6 years ago,
[Calc Review] Help me analyze this deal
*This link comes directly from our calculators, based on information input by the member who posted.
Hello folks. So I am interested in the following deal. At these numbers the property would be about neutral in cashflow and COCROI. What could I do to make these worth it? Each unit is renting for $710, but according to all the multi-units of the same type ive found on Craigslist, they are all renting for $850-$950. What is the correct process of increasing rent when you are inheriting rentals? The renters have all been there for over 3 years. One of the renters is section 8. Any numbers that I should mess with? I also plan to spend a couple grand in pressure washing and painting the house. ?There are also 3 doors inside that need to be replaced. Other than that everything looks decent. I want this deal to work due to it being a triplex, but I need some more clarification on the best route to take here. Thank you!
PS: It is a VA loan on 0% down. Will be living in one of the units when the lease ends in February. Dad will be living in it with me and has agreed for the sake of helping me out, will cover the cost of rent that I would charge a normal perspective tenant.