2 New Properties - Signed Contract last night with my new partner

[Lenny Shwartz]

Hello! Just signed two contracts last night for 2 prime condos. Prime locations with great CAP rates. Here is the best part, I have the opportunity to buy 6 more units in the Lighthouse Point complex from the same person that sold me this one.

#1 - Lighthouse Point, Florida - A+ Location - Already own 2 properties in this development

1/1 First Floor

$52,400 - Purchase Price

Rent - $900. ( Rent roll can go up another $50. per month )

HOA - $190.

Taxes - $60.

NOI Monthly - $650. X 12 = $7800.

Cap Rate  - 14.89%

Get my initial investment back in 6.7 years not excluding vacancies. Right in my sweet spot 6 -10 Years.

#2 - Deerfield Beach, Florida - A Location - Already own 1 unit in this development

2/2 First Floor

$60,000 - Purchase Price

Rent - $1,100.

HOA - $300.

Tax - $75.

NOI Monthly - $725. X 12 = $8700.

Cap Rate - 14.5%

Get my initial investment back in 6.9 years not excluding vacancies. Right in my sweet spot of 6 - 10 years.