(If your browser asks to download it, you can safely or change the settings on your browser to just open.)
Here is the link online to the webpage version of the exact email I sent to you on 10/26/2014.
But, you may say, I do not know how much renovations they put into the
property. At that time I viewed every single unit in the building
and I also had a local contractor give me a detailed renovation
estimate after inspecting the entire building. I also had the
roof inspected by a commercial roofer.
The estimated repairs were $650 for each occupied unit and a full rehab
of each vacant unit at $8200/unit. The roof needed patching and
repair at a cost of $3200. So, the total estimated renovations
would be as follows:
$8200 * 9 = $73,800
$650 * 12 = $7800
Roof repair = $3200
Total renovation costs = $98,368
You can see the exact detailed renovation and cash flow
calculations and projections I sent to interested parties at that time
here:
Why do I tell you all this? Because I currently have several
new value-add commercial income property opportunities for which I am
considering new partners. They are all located in Michigan or Arizona
and have upside similar to these past two deals. Most of them are
unlisted.
ENTER INFORMATION BELOW TO LEARN MORE: