Single family / Duplex Package

[Kevin Harper]

Hello everyone, this is my first post on BiggerPockets and I wanted to ask some of your feedback on a deal I have been presented with here in MKE....

Ok so here’s the summary:

16 properties with 21 doors

Total cost ARV $385k

Annual income $142k

Cap rate 37%

Actual Payoff 2.72 Years

What that includes:

Renovations for vacant properties 50k

Adjusting rental rates to market value (avg. $750 for 2bd / 850 for 3bd / 1k for single family homes)

Insurance cost for each property

Taxes for each property

Management fees

Refinance cost of $1.7k per month

Maintenance reserve of $500 per property

80% occupancy rate

Let me know some things that you may also consider in your calculations as this we’re just starting to add rentals to our portfolio as we have been rehabbing / flipping for the last 3 years!!!