Your numbers are a little light and be aware of your cap ex in areas that snow.

Hi Michelle,Were you completely denied of the mortgage or were you just capped on a lower LTV?

These properties are valued on cap rate and NOI.  

Purchase price x cap rate = NOI.

Asking $4.15m @ 7.6% cap.

The Internal Rate of Return is just under 12% and cap rate and 6.52%.

If I get a stain that is particularly hard to get out, I take a cap full of bleach and dump it on the stain.

To be fair, Engelo did say cap rates would probably be a couple percentage points below what he advertised through his frequent marketing emails.

Thank you. there're already so many deals (eg: cap rate 8-9%) these days....in san francisco market 5-9 unit MF dropped like 30% from last purchased price.

Mortgage broker.I picked a 7 cap to intentionally DSCR-constrain the best options to 70% LTV - in place NOI and cap rate determines the down payment requirement, a property at a 6% capitalization rate would require an even larger down payment.