OfflineA broker sent me a property that has 6 units with a purchase price of 1,350,000. 4 of the units are at tenants at will, one of the tenants move out next month and the other moves out in 3 months. Based on the rent they are paying, and the expenses the seller provided me I have an NOI of 74564. There's is no mortgage on the property, but I would either use private money or seller financing to buy the property. I want to be able to get financing and at the same time have enough money cash flowing in each month. What should my payments and interest be every month in order to keep cash flowing.
I don't know if I calculated this right but I would have to own this property for at least 30 years to pay this property down and keep cash flowing.
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I want be able to use that now because my laptop is broken. I have to wait tomorrow to use the computer at my school. Thank you for the link though..
I have another question. Based on the sellers pro forma the noi was 89293, but when I pulled the numbers it was down to 74,564. Shouldnt the purchase price be much lower because of that?
I'm trying to lower the purchase price as much as possible. For commercial real estate they said for each dollar thats taken out decreases the property value by 10 dollars. Two of the tenants lease expires within 3 months. So based on that information should I subtract the pp to the amount of money each tenant is paying times 10.
for rent rolls for past 2yrs, vacancy rates and tax filings,repairs made and repairs needed
short term financing or owner financing or will they hold a note for part of price?
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
I got the rent rolls, and the vacany rates. I didn't get the tax fillings. Based on the information from the seller the house is fully renovated. Im going to ask the seller if he could to finance the property for me. If he only lend s out part of the pp than ill I have an investor lend me the rest.