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Updated over 9 years ago on . Most recent reply
29 House Packge Deal
I've found two individuals that are selling a 29 house package deal about a hour away from where I live. Here's the number's I've come up with and some they provided. It's a 60/40 split of non section 8 and section 8 housing. Purchase price is 900k
Gross Rental Income Yearly $211,000
Vacancy 8% $16,880
Net $190,000
Expenses Yearly
Debt Service $59,433 20% down, @5.5% ,amortization over 20 years, 10 Year Balloon
Insurance $15,000
Maintenance $20,000
Management Fee $16,000
Miscellaneous $5,000
Property Taxes $15,000
Total Expenses $130,433
Profit $59,567
Thoughts? I thought it looked interesting.