All Forum Posts by: Kevin Isaacs

Wes Blackwell

Thanks for the advice. I've spoken with the broker and it's not going to be the deal for me. The owner doesnt have/wont provide any actual financials. He is also doing weekly rentals and furnished apartments, with this property it will be too management intensive for such a small complex. I considered clearing out the furnished units and getting in long term leases but the numbers dont work out with that approach. 

Greg Dickerson: This deal is in Phoenix about 20-25 min to the nearest college. They only provide pro forma not any actual finances, the rents are over priced on the proforma, and does not specify occupancy. I left a message with the broker and will get that info. thanks for the help

Jake Stuttgen: According to the pro forma its a cash flow monster but using actual market rents and there expenses it about breaks even. I believe its being miss-managed they are loosing 48% of the income on expenses that seem very high for what he has. It has desert landscaping no leasing office no amenities and a 1900 monthly utility bill among other high expenses. 

I am looking for my first multi family complex. What are are to pros and cons of buying a property with 16 studio apartments and one 1+1. This property is a motel converted to apartments. 

Hello,

I just moved to phoenix with my wife and 4 month old baby. We are excited about the opportunities that real estate investing offers. We are currently looking for a small multi family that we can BRRRR. We have a small down payment ready to go but am open to (and will probably need) creative strategies like partnering with another investor or seller financing etc, I have the ability to do light rehab and am willing to contribute sweat equity and hustle. 

Any recommendations on REI meet-ups in the area?

Thanks 

Kevin Isaacs

Thx, I am new here and have the same questions.