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 14 years ago on . Most recent reply

User Stats

108
Posts
13
Votes
Sammy Johnson
  • Homeowner
  • Dalton, GA
13
Votes |
108
Posts

what price range would make this a good deal

Sammy Johnson
  • Homeowner
  • Dalton, GA
Posted

5 buildings comprised of total 14 units rents total 7400 avg rent per unit range from 425- 550 owner says are rents can be raised as much as 200 i wont be offended im not to fair skinned just need some ball park figures to help decide deal or no deal move on to next thanks for any and all advice

Most Popular Reply

User Stats

22,059
Posts
14,127
Votes
Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
14,127
Votes |
22,059
Posts
Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

With those rents, the 2% rule works well. So, about $21,250 to $27,500 per unit. Using the $7,400 figure, about $370K sounds good.

Mark's right, though, that more info is needed. If you can buy similar units for $10K all day long, then $7K per unit would be better. If there's no demand, they're worthless. If similar units sell for $40K, there is plenty of demand, and not much work is needed, then $370K is promising. When someone says "you could raise the rents by ...", I hear "blah, de blah, de blah".

Some punctuation would make your post easier to read.

Loading replies...