Posted by jeff on June 28, 2001 at 12:14:41:
What would be a good price per unit? What is a good expense rate? Thanks for your help.
$1.5 M Deal, Need funding - Posted by jeff
Posted by jeff on June 27, 2001 at 21:42:37:
I am looking at an 18 Unit Building
Asking price: $1,575,000
Revenue: $210,000
Expenses: $36,000
Net Income: $174,000
I haven’t sought funding yet from a conventional lender yet. I have no income and my net worth is nothing much. I am looking for a lender who will lend based on the property and not the borrower. Can anyone help?
Jeff
Re: $1.5 M Deal, Need funding - Posted by SueC
Posted by SueC on June 28, 2001 at 12:25:26:
Jeff, you might switch over to the Commerical forum and do some searches of the archives over there to find more about analysis of commercial properties. Ray Alcorn is very very helpful.
DO NOT BUY IT!!! - Posted by PBoone
Posted by PBoone on June 28, 2001 at 12:10:42:
Jeff,
The property is listed @ 87,500 per unit w/ an expense rate of 17%. The seller is looking to dump a bad building on an unsuspecting buyer. Run and run fast
Pat