Posted by dewCO on February 05, 2001 at 21:34:23:
Try this on the commercial and financing parts of this site.
Posted by dewCO on February 05, 2001 at 21:34:23:
Try this on the commercial and financing parts of this site.
advice PLEASE?? - Posted by jason (kcmo)
Posted by jason (kcmo) on February 05, 2001 at 10:45:58:
I know this is a repeat post but i only got one response so i thought i would try using the magic word. please??
I am looking for critical/viable suggestions and/or ideas to relieving a current landlord of a handful of properties and how to best structure this purchase. All properties are leased and tenants will be staying. My intent would be to hold as rentals for a minimum few years then possibly trade all or some toward a better income producing investment. here a the numbers that the seller has provided. I am fairly new to rei, but i have had a few rentals for a couple years and have a few deals under my belt. what is different here is that i would like to attempt a package deal. seller is willing to finance up to 20% to help out potential buyer.
my questions are how to structure a package deal and how to finance as a package if possible? also, with the numbers provided would the real dealmakers here at this site see a worthwhile deal?
here are the numbers:
sfh: 3/1.5/ 2stry, brick,new roof,water heater,new paint in/out; all appliances stay. rented at 600 per month. taxes 140 yr. tenant pays all utils. 46k.
duplex: 780 taxes, rented 900 per month total. 60k.
triplex: each 2/1.5. tenants pay all utils. 1225 monthly rents. 1560 taxes. 103k.
triplex: 1365 monthly rents. owner pays utils. 607 taxes. avg $250 utility bill. 62k.
fourplex: tenants pay gas/elec. owner pays water. 1025 monthly rents. 607 taxes. 60k.
totals: 13 rentals. approx selling price 330k. total rents 5115.
shaving 40% for expenses (which seems high) leaves about 3k per month to service debt. not giving much if any positive cashflow. im 26, have good credit, bit a cash (rather not use) still have a JOB and looking to increase cashflow a bit. does anyone see potential here and if so, how to pursue? all comments welcome. fire away!
thanks,
jason
ps. thanks nate for your prior response