All Forum Posts by: Khemaro N.

Thanks everyone for the response. Greg Scott I guess I would purchase it if it was a GREAT deal. Even if NOI is 130k or 120k as long as there's meat on the bone and I'm making passive income of at least 5k a month, I'm happy haha. I'm an amateur though. Haven't got my skin in the game yet.

What's the asking price?

Ok my realtor sent me an email for a turnkey deal. it's a 34 unit apartment complex with management already in place. Strong well maintain community. The purchase price is $2,040,000 It was built in 1998, cap rate is 7%. Gross income is $270K. Net operating $142k. I like the numbers. How would I go about financing such a deal? I know nothing about commercial lending.

Are the variable cost i.e. Vacancy, CapX, Maintenance etc deducted from the rent by the turnkey company every month?

"Cleveland Rocks"

Wow! Killing it 🤙🏽🤙🏽

Michael Osborne yes do it If you have the funds to pay it off and you're also good at managing money. Just make sure it's paid off before the promotion expires.

Well if I refinance, I could pay off the truck and keep an extra $500 every month. The other option I could buy an asset either a SFR or MFR banking on the cashflow and plus the tax benefits. What would rich dad do? Seems like a no brainer haha

Eric Bilderback I like nice things LOL.

Jaysen Medhurst thanks for the response. I was also thinking about doing that as well, cashing out the equity to purchase a second property as a rental. I decided I'm better off not refinancing for now and I'm going to wait to see how high the market is going to go. Sam Shueh thanks lot, lmao you're right.