hey guys. it's been a while since i've been able to continue my education in the area of apt buildings. i just received the following spreadsheet. i'm trying to build practice in evaluating these things as they come in. from a general standpoint, please comment on the following if it were sent to you:
Rental Income 35 Apartments
INCOME Monthly , Annual
700/each estimated value
$24,500.00, $294,000.00
EXPENSES
Monthly, Annual
Electricity $1,000.00, $12,000.00
Water/Sewer $1,400.00, $15,000.00
Ground Rent $15.00, $180.00
Insurance $1,800.00, $21,600.00
Trash $250.00, $3,000.00
Telephone $85.00, $1,020.00
Repairs $1,500.00, $18,000.00
Supplies $500.00, $6,000.00
Taxes and Registrations $250.00, $3,000.00
Bristol $75.00, $900.00
TOTAL $6,875.00, $80,700.00
NET Income $17,625.00, $213,300.00
---
right off the bat i can see there's no maintenance costs. furthermore they are assuming 0 vacancy.
what problems do you guys see?
ryan
Rental Income 35 Apartments
INCOME Monthly , Annual
700/each estimated value
$24,500.00, $294,000.00
EXPENSES
Monthly, Annual
Electricity $1,000.00, $12,000.00
Water/Sewer $1,400.00, $15,000.00
Ground Rent $15.00, $180.00
Insurance $1,800.00, $21,600.00
Trash $250.00, $3,000.00
Telephone $85.00, $1,020.00
Repairs $1,500.00, $18,000.00
Supplies $500.00, $6,000.00
Taxes and Registrations $250.00, $3,000.00
Bristol $75.00, $900.00
TOTAL $6,875.00, $80,700.00
NET Income $17,625.00, $213,300.00
---
right off the bat i can see there's no maintenance costs. furthermore they are assuming 0 vacancy.
what problems do you guys see?
ryan
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