All Forum Posts by: Frank Daly

Could I still figure 10 percent on Cap X on a Condo? Or can I lower the percentage

The owner lived in the 1534 sq ft unit. The owner passed away. The family only renting to family and friends only. The only renter is a friend of the family. The other problem is that I will have to pay for the water, sewer and gas. If I offer $80000 and up the rent it should work. The area is is not bad.

There is a 4 unit building for sale in my area. One of the units is a 3 bedrooms 1,535 sq ft, one is 2 bedrooms 1,170 sq ft and two units 2 bedrooms 850 sq ft, but only one of the 850 sq ft one is being rented for $400. The building is going for $110,000. My concern is should I make a offer on the building that is 1/4 rented? The owner is saying the 3 bed was getting $600 and the 2 bed 1,170 sq ft was getting $525 which are low.