All Forum Posts by: Lauren Apicella

@Account Closed I am looking for investment properties (Already Rented Multi-Family Units) to buy and hold in the Western 'burbs - if you have anything coming up let me know, I would love to take a look!

Looking at purchasing my first rental (Go Big or Go Home, Right??). These numbers came from the current owners Trailing 12. What do you think of this deal? What am I Missing? 

# of Units: 12

Purchase Price: 880,000

GOI: $128,378 (Already assumes a 5% Vacancy Rate)

Taxes: $24,250

Insurance: $3164

Management: $6,419

Grounds Maintenance.: $1,800

Repairs: $3,000

Electric: $817

Water/Sewer: $12,522

Alarm: $730

Trash: $2,196

NOI: 73,464

PITI: $5,623 (25% down - 4.5% INT)

Expenses: $27,500/year 

Cap: 8.35%

COC: 14.9%

GRM: 6.85

Thank You!!

@Brianne H. It was built in 2007. The HOA fees include Water, Parking, Common Insurance, Exterior Maintenance, Lawn Care, Scavenger, Snow Removal.

I'm in a multiple offer situation so I don't have time to grab the HOA docs to look into their budget, but will do all of that during Attorney Review - this way if there is a red flag I can back out.

The location is great - a suburb that was not hit as hard during the recession - walk to the train to get downtown - close to parks/elementary/junior high. 

Since it is my first deal I want to make sure I'm not missing anything with the numbers (or getting emotional!) and also keeping in mind downfalls of HOA's.

@Joseph Abad thanks so much for the input!

Yes, property is in good condition so no expenses in the beginning until something breaks :)

I will be managing myself. Since the HOA manages exterior of building including landscaping, I would say about $40/month Capex, perhaps a little less

This is a Condo - everything is in monthly figures

Purchase Price: $209,000

Mortgage: 814 (4.85% IR)

Taxes: 341

Insurance: 33

HOA: 175

Vacancy: 95

Repairs: 190

Rents for: $1900

Any input would be greatly appreciate! Thanks!

@Rob Lalumendre Send me the details - I may be interested in partnering!

@Brad R. that is amazing! I'm a Realtor in Naperville so anything I can do to help you accomplish your goals please let me know!

@Matthew Ryan Open to unit count, no more than $750K - do you know of any?

Anyone know of a good Real Estate Agent in Greenville SC that specializes in Multi-family units 5+?

Looking to buy a place this year!