$500,000 for this Multi-Family Property - Buy Back the Block Series

[@andrewa973]

Water is the number one damage for houses you are 💯 right even when a house is on fire the fire causes damage but sometimes it the amount of water to take the fire out the causes more damage

[@jeremiah5881]

Not a good deal, just picked up 18 unit fully occupied for 450k creative financing at 2% in a way better market. Rent is $450 under market.

[@tonypeters3320]

Thanks for the tour! Did he buy the property like this or did the plumbing issues happen after he owned it?

[@realestatedoru]

I want to say he got the place like this

[@lifewithnickyd]

Thank you

[@Mississippislim70]

Must be in depressed area, 500k for a 16 unit!

[@brandonlifefamily8331]

must be Detroit...

[@stevenchow408]

Rome was not build in a day

[@mr.blazelebeau5577]

That's why it's a deal. Depressed area or not you won't find one like that too often.

[@DusableLewis]

Detroit is on the come up. It's being gentrified they say.

[@stillsolid5785]

All those one bedrooms and studios turnover will be crazy

[@k.alexander9358]

I’d need to know the area to bro bro. How in demand are the rentals in that specific area? Lawn and grass? Management fees? Etc

[@realestatedoru]

You got to reach out to my man Antoine

[@canonymous8035]

@@realestatedoru how do we reach out. I'm definitely interested

[@DusableLewis]

He gonna need like 500,000 to fix this I think

[@carltondarville5387]

💰

[@ygbodybuilder3023]

I wouldnt dare touch that place

[@404Mal]

Why not?

[@realestatedoru]

Why not?

[@yahosephbenyisrael917]

Hey Nas. This looks like a good value add property. How come you don't want to buy it?

[@k.alexander9358]

You’d need to see the projected financials to make that call bro. $25k per unit. You’re looking at $400k on top of the $500k acquisition. I’m not sure if the 1 beds would support that $900K mortgage. I’m in the process of doing 14 unit in Chicago. 300 acquired and 350 renovation. $1200 per unit.

[@realestatedoru]

I do very well locally. So not looking at buying in Detroit right now

[@anuadebanji5664]

@@k.alexander9358 I’m also into real estate in Chicago. I’d like to connect with you

[@pattondarnell]

💪🏾💪🏾