OfflineMy realtor just informed me of 2 opportunities but I think they are way too big for my pockets.
First Deal: 22 unit 2bed/1bth student apartment complex on ISU campus. The Annual NOI is $135K and the asking price is $1,750,000.
Second Deal: 3-12 unit student apartment complex. Each unit has 1bed/1bth. The Net Operating Income is $88,139.
Any ideas on where to start with these or should I just forget about them and move on? Any advice would be greatly appreciated.
Thanks,
Julio S.
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Seems like a HUGE undertaking unless part of the expenses includes a FANTASTIC on-site manager (or the University) who is good at keeping them filled and working through all the "college age" issues. Makes me shudder!
What do you think about the numbers?
Rina
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