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Updated about 5 years ago,
Newbie running the numbers in Philadelphia
An agent friend of mine found a decent property and I want to start running the numbers for some practice. It is a 5 unit mixed-use(4 apartment units, 1 commercial unit) generating $5,430 in rental income. List price $980,000. Below are some values I am having difficulty finding.
Closing costs. Seller already updated the units. Do I need estimated repair cost? Maybe for minor stuff? Points and other charges from lender? Mixed-use cap rates for Fairmount, Philadelphia? Fixed and variable expenses? Increase statistics?
Also, I might have an equity investor or several equity sources. What might be some methods to purchase and hold this property and possibly house hack it.
Kenny