[Calc Review] Help me analyze this deal

[April Childers]

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hi All,

I have been looking for my first deal and I think this might be it but I continue to waiver so I am really looking for opinions of more experienced investors. One of the big advantages I think about this deal is that the bank will do 85% at 6% for 20 years (locked in for 5 years) and the owner will pickup the other 15% for 6 years at 5.5%. All 5 units are currently rented under market value for a total of $3350 a month. As you can see the current owner pays the water bill and it averages about $400 a month. I think with some cleaning up around the building and updating the units as people move out I can get around $800 a unit but money will be tight until I get the owner financing paid off. I look forward to hearing your opinions on this deal, hopefully I have given enough details.

Thanks,

April