All Forum Posts by: Tony Sepassi

Thank you.  Not much of an upside though. 

Hey Guys.

I found an apartment around $925K with a 5.36% cap rate out of state. I wanted to get some feedback from experienced investors on how to reduce the loan amount each year to pay less monthly payment..

It shows if putting 25% down that is $231K and  a loan for $693,750.   30 years at 4.25

The NOI is $49,560 and the projected debt service is $40,954 the cash on cash is 3.72% then

So before tax cash flow is $8606

Doesn't seem like a good deal and how can the monthly loan payment be reduced?  I usually see articles on how someone bought an apartment building and the next year or two then bought another one but with the low cash flow not sure how they do it other than find other investors?

Thanks!

I have been looking for out of states,  I live in DC and have done flips and now looking for cash flow and there a few cities that pop up.    Cleveland,  Colorado Springs and Kansas City.     One thing I have learned is you do need to hop on a plane and go see these places or else it is a crap shoot.   Don't take anyone's word for it,  see it with your own eyes.  

Thanks for starting this thread.

@Syed Naqvi have you found anything? I’m currently looking too.  Being in DC is to expensive but I hear Grand Rapids is developing, May fly there check it out. 

To many options which is good thing but makes the research harder. 

Mark it is free and clear but I feel I can do more with that amount of cash

Thank you.  There was this property which I need to find it again and I can send you the link.  I wasn’t sure about the area maybe you can advise me. 

Thanks. 

Tony

Hi Matt ,

Sounds good. Let me know when you will be in town. 

Keep me in mind for multifamily if you find. Thanks. 

Hi Guys,

It has been awhile since I have posted,  been a busy 3 years. Started flipping and now I'm on my 4th flip a big property in DC.  Found some solid contractors and I have learned so much.  Now I'm thinking, I have a condo which is worth around 500K and the rent is 2150 but after condo fees and management fees it is a lousy $1450 a month.  So I'm thinking of selling and buy a multiunit apartment building but trying to see what state is a good choice?   

I have looked at Arizona, Ohio, Texas and Florida and it seems they have some good properties with cap rates in the 7 to 8% but I prefer DC or MD but as usual properties have lower Cap rates.   I want to have a monthly income so I can quit my job and concentrate on the flip.   So any advise is appreciated.  Thanks!