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Updated about 6 years ago on .

User Stats

23
Posts
4
Votes
Brandy Morton
  • Residential Real Estate Broker
  • Advance, NC
4
Votes |
23
Posts

[Calc Review] Help me analyze this deal 1st multifamily purchase

Brandy Morton
  • Residential Real Estate Broker
  • Advance, NC
Posted

View report

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

Good afternoon, I would be extremely grateful for a set of experienced eyes to look over this and tell me what you think please. 

I have found what I feel to be a good deal with most of the major systems having already been replaced or will be replaced with acceptable offer. It has potential to be managed better and have the rents raised to market value. It is located in a good spot, within walking distance to the downtown even though it is in a smaller town. There is a good mix of employment there. Current residents are primarily on a fixed income (but would still be able to afford a rent increase). 

The downside is, the current tenants all have month to month leases, there are pets, a lot of maintenance has been deferred (but would be completed prior to closing) and there seems to be a high turnover rate for 3 units, however, I believe this can be attributed to poor management and the lack of long term leasing. 

I would love to hear your suggestions and feedback please. 

Thanks in advance.