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Updated almost 11 years ago on . Most recent reply

Scott Schuetz's profile image
Scott Schuetz's profile image
Scott Schuetz
  • Real Estate Broker
  • from Indialantic, FL
  • Member since Apr 23, 2014
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Scott Schuetz's profile image
Scott Schuetz's profile image
Scott Schuetz
  • Real Estate Broker
  • from Indialantic, FL
  • Member since Apr 23, 2014
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Scott Schuetz
  • Real Estate Broker
  • Indialantic, FL
71
Votes |
145
Posts
Real Estate Deal Analysis & Advice

What would you do with this?

Scott Schuetz
  • Real Estate Broker
  • Indialantic, FL
Posted

Townhouse listed for $129k, I think they will come down to about $115-120k. I just viewed it, it's move in ready. Rent will be $1100, HOA $250, taxes $1200. The retail value is $145k or more, but... The legal description is a condo and there are only 4 units. None of the units are owner occupied so there is no bank financing available.

The numbers almost seem good for a buy and hold but it would deplete all my cash. Thoughts??

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Alex Flowers's profile image
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Alex Flowers
  • Involved In Real Estate
  • from Mobile, Alabama
  • Member since Apr 23, 2014
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Alex Flowers's profile image
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Alex Flowers
  • Involved In Real Estate
  • from Mobile, Alabama
  • Member since Apr 23, 2014
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Alex Flowers
  • Involved In Real Estate
  • Mobile, AL
2
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Alex Flowers
  • Involved In Real Estate
  • Mobile, AL
Replied

@David Jacques

I've always heard and used NOI for cap rate, not gross.

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