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Updated almost 4 years ago,

Avonta Canady's profile image
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Avonta Canady
  • Member since Jun 10, 2019
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Avonta Canady's profile image
Avonta Canady
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Avonta Canady
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Real Estate Deal Analysis & Advice

6 Unit Apartment Deal

Avonta Canady
Posted

Hey BiggerPocket Family!

I have my first apartment deal and need some advice on acquisition and exit. Its 6 units all 2 bed 1 bath rented at $850 (max rent I could increase to is 950 with updating) Purchase price 385k, (could potential update for about 8k per unit). Annual NOI 38k, DSCR 1.46, 10% cap monthly cash flow after expenses 1.2k. I don't want to tie up 100k (25% down) so are there any suggestions? Would you do this deal and how?

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