Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

1
Posts
0
Votes
Omar Handson
  • Kansas City , Mo
0
Votes |
1
Posts

Hard Money or Private Lender..Input on my numbers Please

Omar Handson
  • Kansas City , Mo
Posted

 22 units = $10350

Vac loss 7% = $725

Rent gross= $9625

Operating Expenses = $3700

NOI = $5925 ÷ 12% cap = $49375 × 12

The value of my property rented

$592,500

The property sits vacant as of now .

And I still owe the previous owner 100k through ower financing.

I'm a electrician by trade and my plan was to make the major repairs ( electric, plumbing, roof ) when i could or had the time and i Just recently spent 55k updating the electriaI service with my own cash.. New metering and panels for each unit..

WelI got wind of a major neighborhood redevelopment project in the works right across the street from my building.

500+ unit apartment complex with mix use live and work space with restaurants and retail...

So let's just say my plans change a bit....lol

So I need financing to speed up the pace and match my rental property with the development being built in the area..

Where do I start..  ???

Loading replies...