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Updated about 8 years ago on . Most recent reply

User Stats

19
Posts
2
Votes
Dutch Smythe
  • Investor
  • Lake Worth, FL
2
Votes |
19
Posts

Something Not Adding Up

Dutch Smythe
  • Investor
  • Lake Worth, FL
Posted

So, it is a commerical property. It has 4 units but currently two businesses: one used 3 spaces- the other the remaining.

$1917 rent from tenant 1

$800 rent from tenant 2 who pays all water. (Long term tenant whose rent has mot increased in 15 years)

Insurance and tax currently paid by owner.

Needs a 30k new roof.

Maint: $1600 annual

365k for sales price

Tax on that price would be $8600 annually

Insurance $3400 annually

Question: Should I evaluate this deal from how I would structure rents and payments? I see not profit from the current set up of rents and the other arrangement of tax and insurance. 

What am I missing here?

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