Flippers need houses to rehab. Landlords need real estate to add to their portfolio. Multi-Family investors are real estate investments and the Wholesalers want anything with good numbers.
So how do you find good properties and deals?
You never know what gems you can find
Do You Own or Control This Property? Yes
Name : Laura De Loera
Is The Property Listed With An Agent?: No
Property Type: Apartment Building
Property Address: 8th St, Rockford, IL
Property URL (website listing):
Property is a value add; needs some work and rents raised
Purchase price $290K
14 units; 13 are occupied
Income/month: rents: $5416 (no w/d)
Expenses/month: $2,703 (includes repairs/maintenance of $400/mo)
Cash on cash return 20.47%
Property is in need of some cosmetic updates and has some deferred maintenance and rents are below market but it cash flows well. Improvements can be done over time as tenants move. New roof in 2011.