All Forum Posts by: Bridget Smith-Osbourne

Fabulous insight Michele! I never thought about such. You are absolutely right. I will have to ask seller the average length of stay. I believe he has frequent turnovers. My site visits have illustrated this. I believe it may be due to the deferred maintenance issues. Nervous about moving forward. Not sure if the numbers make sense.

Appreciate your response Giovanni. The rents are currently at $385/month. Owner has never done any rent increases. Realtor believes rents can go as high as $450-$475. I would say $450. I have a quadplex 2br 2ba on the other side of town renting for $550 so I believe $450 is doable. Based on my calculations the cap rate is in the 10% range. Realtor has not given me a cap rate for the area.

Thanks Joel. I would say the property is in a C area. No I am hoping to finance the deal. Would like to offer $175,00.

Sounds like a great event. Although it's my daughter's birthday, you can count on me being there.

Hi Everyone,

First time posting on forum. I need to know what my offer price should be and need help analyzing deal. 10 unit 2br 1ba 100% occupied. Asking price $199,00. Taxes $3660.84/year, insurance $2000/year, H2O = $300/month. Dumpster $150/month. Security light $40, landscaping $100/month. Parking lot needs repaving cost $17,000 which does not need to be done immediately. Property has cosmetic deferred maintenance( i.e dirty carpet/flooring). Rents can be pushed to $450/ month with proper management and improved cosmetics. Not sure if I have factored in everything, please help.

Thank you, Bridget