[Calc Review] Help me analyze this deal

[Cara Kennedy]

Hey folks,

As indicated in the short description, I'm looking for feedback on my assumptions estimating the rental potential of an apartment building in the Detroit Metro area. All constructive comments welcome and thanks in advance for your time. As per the 50% rule the monthly income looks like ~$5500, however in detail I'm getting values closer to $1500 and it looks like my mistakes are too great (however I'm not sure if it's just not including the renos that I plan to do to the property). Thank you!

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

[Jaysen Medhurst]

@Cara Kennedy, you can certainly request the T-12 and rent rolls. They may share or not. Sometimes owners are reluctant to pass out that info without a Letter of Intent. It really depends. No harm in asking, though.

I bet your insurance will be $1500-2k/month, but you'll have to talk to some brokers to know for sure. This can really vary market to market.