Good Deal?

[Melissa N.]

Is this a good deal...

Purchase price $398000.

Current NOI $25,515. Monthly cashflow $258.

Money Down: $50k and a 5% rate (owner financing...is that good?)

The plan is to immediately implement Rubs and fix two apartments so that they rent for more about $350 more per month.

Over the first two years we will continue to bring the other units up to market rent creating:

NOI of $44,323

Cash flow of $1825

Cash on Cash 28.64%

Thoughts??