My husband just retired but needs income, We found 82 units , 2,229,000 near a school. I don’t think he charges enough rent for 2-3 bedroom apts, he only charges 400 435. He gets 35,000 rent mthly but should get at least 38,000 which would be 1,900.000 if I x50. Is this about all you would give for this? We planned on property managing ourselves partly and my husband was a maintenance man for years, Does this sound like a good deal for you if we could structure it?
Estimated Annualized Operating Data Year One Year Two Year Three Year Four
Scheduled Income $411,240 $423,577 $436,284 $449,373
Other Income $9,575 $9,862 $10,158 $10,463
Collection Losses ($4,112) ($4,235) ($4,362) ($4,493)
Less Vacancy $20,562 $21,179 $21,814 $22,468
Gross Operating Income $396,141 $408,025 $420,266 $432,875
Less Expenses $189,609 $196,038 $202,701 $209,605
Net Operating Income $206,532 $211,987 $217,565 $223,270
Less Loan Payment $147,772 $147,772 $147,772 $147,772
Pre-Tax Cash Flow $58,760 $64,215 $69,793 $75,498
Cash on Cash Return 11.75 % 12.84 % 13.96 % 15.10 %