Looks like a nice deal, unit mix, vintage, locatonCongratsGino

These vintage Detroit homes are lovely but they sure are higher maintenance due to their age.

In this part of the market cycle, newer vintage assets, median incomes of at least 50k, washer dryer hook ups, more two beds than ones, townhome style assets.When the broker showed us the deal we didn't have to waste time analyzing it.

Purchase price: $160 Cash invested: $108 Sale price: $355,000 Vintage 1900 2 Story 1650 Square FT Complete stud to stud restoration What made you interested in investing in this type of deal?

And what one investor thinks is great, another will think is terrible and vice versa.As a conservative investor, I go with a vintage year strategy.

- Purchased a 1960's vintage building, 18 units, in 2017 for $1.5M- In a major urban city in the northeast- Put $400K down and have paid down $100K in loan (so the balance is $1M)- Purchased it to supplement my 9 - 5 and use it as a resource of income to retire (15 20 years from now)- It's comprised of studios, 1 bedrooms and 2 bedrooms. 

.: Oh I see @Jay Hinrichs the old stuff seems harder to access not sure sorry not to read your whole question. i have wondered that about the older ones too, they were better more realistic. thanks Jeff  I guess I will wait till monday to ask someone at BP world headquarters there are a couple of vintage ones I would like to check in on..

Hold on, I have 2021/2022 on the phone for you, they're asking if you are interested in a 100 unit 1960's Vintage Multi-Fam property called  "The UnderWater" at a 3.5% Cap rate....Wait, Blackrock just said "Hold my Beer" and offered all cash at a 3Cap, something about subway tile Backsplash should double NOI in 3 months.perhaps modify "It is never a bad time to invest in real estate." to "at a good price". :) jus playin' It is all based on an individuals ability to invest in real estate in a ethical manner.

It's a 70s vintage deal, 400+ units, with a lot of nearby competition, so certainly there is some risk elevation from the asset/market, but that's the least of the problem here, in my opinion.If the numbers on CoStar are correct, the property was purchased at the very top of the market for $47M, with a $39.4M bridge loan (that would likely mature this year). 

Congratulations to the new owners on scoring their dream vintage-vibe home!