All Forum Posts by: Patrick Hill

Hey Rob, thanks. 

6 Unit Multi Family   Listing Price $284,999   

Pro Forma 

Annual Income $51,000

Utilities $3500

Taxes $5811

Working the numbers with 20% down payment ($57,000)

Private Investor $57,000 @ 6% = $3420 annual  or $285 monthly simple interest 

Commercial Loan $228,000 @ 8% = $2091.23 monthly mortgage 

Debt Service = $ 2376.23 Monthly 

Income $51,000 or $4250.00 Monthly 

-775.00 Taxes and utilities 

NOI $3475 - $2376.23= $1098.77

What im looking for is an industry standard or guide for multi family unit's net profit after all expenses including debt services. There must be an absolute high and low number. I feel it shouldn't be so hard to get a ball park figure. Each analysis I complete is not leaving much profit after expenses and debt service. The MLS has a ton of properties. Who is buying them? And how are they making a profit? Especially when the real deals are not posted on the MLS. Id like at least 1k monthly profit after all expenses per property. Is there anybody here making that type of profit?

With all things considered what should 24 units cash flow in your opinion? 

Hello, is this a deal if its actual information? I see a cash flow of $36,876 / 12 =$3073 monthly.   Down Payment of $415,000 looks like the difference of the Selling Price to existing Loan balance. I guess it would be an assumable hopefully can refi lower than 4.25%. If I wanted this and other properties.  It says the debt service is $97,994 / 12 = $8166.00 per month . If im cash flowing $3073 pre tax how can it be consider cash flowing? Or hopefully the cash flow pre tax , is after all reported expenses have been taking into account. Any help with this will be greatly appreciated. 

Tamarack

Financial Summary (Actual)

Debt & Equity Information

Thanks Jay, i forget that its Public Information and anyone can have access. Some bid deposits are only 2k some are 5k and some can go very high into 60k. Im going to build a great portfolio after the learning curve. Lol. I appreciate the insight. 

Thank you Wayne and Kyle , says its being sold free and clear in part of the bid instructions then it says subject to ... Do you know how i can research all those subject to's?  How i can analyze these? Is all the information with the country clerk? 

"The property is being sold free and clear of the lien(s) being foreclosed, and of all interests subsequent in right to that lien. 

The property is being sold subject to: