Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 4 years ago,
Is this a good deal?
I am looking to buy an old commercial building in a very small town (750 people) and convert into 7 units here are the numbers:
$55,000 purchase
$100,000 renovation
$15,000 hard money interest
Property management: 7.5% plus 25% of 1 months rent for each lease renewal annually.
Rent: $625 per unit with utilities included ($4375 total)
$20,000 annual utilities + lawn care/snow removal
$3000 annual cost for turnover and repairs
$2000 property taxes
Thoughts?