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Updated over 11 years ago on . Most recent reply

Britt Abbey's profile image
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Britt Abbey
  • Investor
  • from Lowville, New York
  • Member since Sep 30, 2013
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User Stats

65
Posts
18
Votes
Britt Abbey's profile image
Britt Abbey's profile image
Britt Abbey
  • Investor
  • from Lowville, New York
  • Member since Sep 30, 2013
Connect
Britt Abbey
  • Investor
  • Lowville, NY
18
Votes |
65
Posts
Real Estate Deal Analysis & Advice

4 Unit Purchase

Britt Abbey
  • Investor
  • Lowville, NY
Posted

Purchase Price: $64,000

Current Rents: $1,840 (550, 400, 440 and 450)
Renovations: $28,000
ARV: $110,000
AR Rents: $2,000
Taxes: $3600 (Based upon assessment of $120,800) Will attempt to grieve.

Cash purchase with the intent to refinance at 75% LTV in 6 months.

At first glance, it really doesn't pay to improve the property when considering current rents vs. future rent, but much of the budget is maintaining building from previous deferred maintenance.

Thoughts?

  • Britt Abbey
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