Well first I have to say that this is the best and foremost place to get advice, meet other investors and cross reference.
I am very new but I have been analyzing properties for quite some time now, so I have an idea how to do it, but I know I don’t know enough. So that said here is what I found. The question is is this a good deal? I can’t afford to get it wrong.
Asking price 2.1 71 units
NOI 236,609 Actual
Expenses 88,927 Bank said was to low in per unit cost. Owners says they just reposition them during the past 3 years.
Owner giving a 5% second @ 7.5 3 years balloon.
Thats the first one.
Asking 1.4 46 Units
NOI 156,691 Actual
Expenses 54,029 Same story than the above same owners.
Owner giving 5% finance 7.5 % Balloon 3 years.
Thats is the second one.
Asking 1.5 16 Units Waterfront abandon
Needs 500K in repairs can be converted in condos and sold for more than 275K each.
I have those on my mind and going cracy with the numbers and don’t know if I should squeeze the trigger or not… NEED ADVISE URGENTLY…
Please great investors trow me some ligth to see if I have something bad or good?