All Forum Posts by: Essam Elkady

My definition to class C area is ,is area that can be old but still safe ,I mean can you sleep overnight there and walk and park your car without any trouble then it is C area,
This return in C area is amazing

looks great on paper ,but what kind of area is it, if class D area then it is not worth it with the headache that comes with the tenants

Hi Aubrie I live and invest in springfield if you need any help let me know

the area is deteriorating obviously ,look at zillow houses there sold for 2000 and 5000 $ I think this is waste of money with no exit strategy

Thanks Arlan so hopefully no sound investor will touch it at this price I will keep an eye may be they will come down with the price

springfield missouri rents are not high ,the property taxes are not high so rents are low ,that gross rent is the best that can be acheived in the area the 2 bed room 2 bath single house in nice area rent for 600$ ,so for apartment we can not ask more than 500$
what you guys think will be fair price for this complex based on the numbers

Hi Guys I always hear about cap rates of 10 percent or more in multifamily I really do not know what you guys talk about Iam from springfield missouri here is the best deal we have
Asking price 359000 may be will sell for 330000$
6 units 4 of them 2 bed 2 bath and 2 units 1 bed 1 bath
monthly total gross rent 2900$ It is very easy to rent ,real nice area class A ,the building is B though built in 1988 but brick and nice building

Expenses monthly 280$ taxes,200$ insurance,250$ utilities just water and sewer maintenance I would say 300 $.management another 300$,CAPEX 250$,vacancy 200$
Cap rate around 4 -5 percent so what are the numbers I hear here at BB ,that is the best building I have seen so far