First investment: 16-plex apartment building

[Marc-Andre Bordeleau]

Hey guys thanks for coming. I was looking at this apartment complex and ran the numbers on BP's calculator and thought I might as well ask for your opinions on this deal. I think it looks like a solid deal on the outside.

Asking price: $1,760,000

Offered price: $1,250,000

Down-payment (30%): $375,000

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Income per month: $12,300

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Taxes: $1,164

Insurance: approximately $415

Repair and maintenance: $985

Heating and electricity paid by tenants.

Lots of renovations done to it in the past 5 years.

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CoC: 7.15%

Cap rate: 7.08%

Here is the analysis link.

https://www.biggerpockets.com/buy_and_hold_results...

Let me know what you guys think!! Thanks.