Is this a good deal?

[Chris Curtis]

Is this a good deal

Two 16 unit apartment buildings total rehab for both buildings think I could get them for 800k (400k each)probably 300k(150k each) in rehab.

ARV for both building approximately 1.1m. Pro-forma rent 950/month. Near an university possibly student housing???? Any feedback would be awesome

[Josh Urrutia]

Well the cash flow is there. I'm assuming vacancy wouldn't be an issue for college housing. However the overall deal might be a little cash heavy on the front end. ARV being 1.1M and you having to put in $300k to get there could get dicey. Repairs will be high, because well….college kids. Property management is usually higher on campuses. But if you're looking at $950/unit x 32 units. You can absorb some serious costs. It's gonna be all about not getting killed on the front end with rehab surprises and holding costs before it's rent ready. I'd try to buy deeper if possible unless you've got some nice padding in your reserves. Good luck!