Originally posted by "Ashamann01":
Property Price: $140,000 (asking price, can negotiate down but for analysis purposes keeping it here)
# of Units: 4
Total Yearly Rent: $25,800
Expenses (assuming 50% rule): $12,900
Down Payment: $14,000
PI: $7,664
Property Management: $1,290 (its about 6 hours away so no way for me to effectively manage it myself)
Cash Flow: positive $2,656 (yearly)
Do you know how many bedrooms each unit has for this fourplex my friend. If so it might be more profitable for you to obtain a HUD program and section 8 the property.
Here in CA you will get: (note rents are a little higher and all most the same in Colorado too)
$1,000 for a 1Bd
$1,300 for a 2Bd
$1,700 for a 3Bd
$2,000 fro a 4Bd
add 15% for a 5Bd (from the rent of a 4Bd)
add 15% for a 6Bd (frrom the rent of a 5Bd)
