All Forum Posts by: Eddie Quispe

 Hi Christina,

I'd love to hear un update on this, I am thinking about ALFs as an investment opportunity as well.  Thanks!

Hi Jane, thanks for the reply.  No exit strategy... :(  I am planning to keep it for as long as I can.  I haven't seen anyone selling individually but I could check into that as an exit strategy.  I like the fact that it could be a low maintenance deal as well as better tenants but I am also looking at much better cash-flow.  I am going to pass on this one.

 Thanks Scott!  I'll check it out.

 Hi Scott,

Taxes are 3177.00 and insurance 1877.00  Where can I get the Real estate analysis free tool?  Thanks!  Eddie

 Hi Jerry,

A similar unit within a mile of this property sold for 365K and the rent rates are about the same in this area.  You are correct this is a B+ property fairly new, well built and in a decent part of town.  The more I look at the numbers and the feedback I am getting from everyone it doesn't seem to be great deal.

Hi John, thanks for the detailed feedback. Yes I would like to get at least 100/door for the market I am in. The Total Operating Expenses include Tax, Insurance, Landscape, Repairs and Maint, Pest Control, Utilities (water), property mgmt, 5% vacancy rate and there are no HOA fees.

I didn't add any CapEx but I'll add it to the calculations. I also need to add the closing cost and Rehab just in case, even though it looks like everything is in order (I won't know for sure until I do an formal inspection if I decide to go with this deal).

Looks like I need to negotiate the asking price as low as I can to make this work based on my goals.

Thanks a bunch!!!

 The 5% is only an approx on interest rate but it's probably pretty close to what the bank will charge me. In your investment experience you wouldn't tie up 100K on a property like this? In what other ways will you invest 100K that will provide greater returns?

Eric, the Annual Operating expenses from the owner shows 1200.00 annual maintenance and repairs.  How old is your building and how much maintenance and repairs do you have per year?  I don't want to overpay just because it is a new building. I own a home nearby and looking at the rent, I don't think there is room to increase it.

Barbara/Justin

The operating expenses include Maintenance and Repairs as well as the 10% Management Fee.  It doesn't include the Vacancy rate, I'll add that into my calculations.

The property was built in 2006, it has tile roof and it is in great shape.  Tenants have been there under 3 years. 

Hello Everyone,

I was wondering if anyone can look at this deal and share some feedback, concerns or questions. I am trying to figure out if the numbers will work and if I should put an offer. I appreciate any help. Here are the details:

Asking Price: 389,000

Down payment 25%: 97,250  Loan Interest: 5%  Loan Term: 25 Yrs

Units: 4 (2 Units are 3/2  - 2 Units are 2/1.5

Total Gross income: 3,700

Total Operating Expenses: 18,119

Year Built: 2006 Located in a nice part of town

Thanks!!!

Eddie Q.