All Forum Posts by: CJ Z.

@Travis - The GPR is between $2000-2200 and each unit is 1 bed / 1 bath. This area is a good blue collar neighborhood. Their are window units in this property. Thanks for the advice on due diligence, I will definitely be getting a good inspection done if I get an offer accepted. 

@ Mackal. I plan to manage the first property myself to learn the ropes and then switch to a a management company if all goes well and I buy more properties. I want to do a mix of cash-flow and equity plays but the cash flow will help accelerate the rate I can buy properties so I am focusing there first. 

Per the price - there are fully rented turn-key buildings selling for $160-$180 on the same street with GPR at $2200. My thought was $120K purchase + $16K Repairs with an ARV of $160K would allow me to pull some cash out after seasoning to use in the next deal.

Thanks for the help!

I'm looking for my first deal in St. Louis. This is a four family in the North Hampton neighborhood. My question is does the analysis look sound? Is this the type of return I should be looking for or can I do better? The list price is $147K but the property only has one tenant and has been listed for 3 months. The analysis is based on getting just under a 20% discount off list or $120K.

The property currently only has 1 tentant and will need about $4000 per unit to paint, update the kitchen and re-tile the bathrooms. Any advice is appreciated!

DropBox Link to Analysis