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All Forum Posts by: Brent Rogers

Brent Rogers has started 11 posts and replied 21 times.

Post: new to apartment complex investing

Brent RogersPosted
  • Investor
  • Georgia
  • Posts 22
  • Votes 2

I am a new investor and I have flipped one home and bought one rental in the past 9 months.  Both were very good deals for me.  My "insider" who brought me the leads on these two has brought a couple of apartment complex deals in front of me.  They are out of state about 4 hours away.  I feel comfortable analyzing any single or multifamily residence but apartment complexes are another world to me.  I'm educationg myself quickly to the numbers (like assume 35-40% total expenses) but can someone tell me if this sounds like a deal worth pursuing?

Very close to major university in urban town so mostly student rentals

Currently 100% rented

13 units , 23 beds

$7,175 month in rents (86.1k/year)

I think I can get the property for around $625k.

Should I stick to what I have been doing (houses) or consider this deal?  The place appears to be well maintained and very close to campus.  My modeling shows positive cash flow of around $7,600/month.  However I get more than that with my rental house although it is on a 30 year personal mortgage and this obviously would be commercial.

Any wisdom appreciated.