Purchase price: $1,050,000 13 Unit multi family - Class C, value add, buy and hold.

Not all classes are in the stratosphere with tons of competition. 

And if they really want to pay 80k+/door for old class c stuff, who am I to say no?

Did they try to up sell you to a Master class for 10 to 30k ?

A PM who does Class A stuff isn’t the right PM for a class C value add.Plus it takes time.

The vast majority of my experience is in C class rentals, where durability and basics is key.

So if it is class C property they might ignore some things.

In the CE REALTOR classes I teach on the 203k, I always use the example that the lender is like the quarterback.

The impact on the cash flow is minor and we have no risk of refinancing issues.7: This only works this well in our super low interest rate environment and the appraisal meeting these specs (5-5.5 Cap)8: The funds are returned as a LOAN not income- and if we do it right- the investor rolls into the next one.9: Note- our model is a 30/70  We get 30% of the project putting it all together- the other 70% is what is invested.  

These numbers can vary depending if you’re in a high appreciation market or not and what class of asset you’re targeting.You should always let the seller name is price first (who knows it might be lower than what you’re willing to pay), if you have to give your ballpark start at 50% and increase progressively up to 70%.