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Updated over 9 years ago on . Most recent reply

Account Closed
  • Real Estate Investor
  • Alabama
1
Votes |
40
Posts

29 House Packge Deal

Account Closed
  • Real Estate Investor
  • Alabama
Posted

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.

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