My clients are very happy making a little over $30,000 a month
It makes sense!
Just closed on a great property
Long Beach California, in a very prominent area, my clients just closed on a great investment.
The property is 15 units with a current yearly income stream of hundred and $162,160. My clients purchase the building for $1,380,000; they put down 345,000 with a first trust deed at 1,035,000. My clients were able able to secure a 30 year fixed loan for the amount of 1,035,000 at the rate of 5.8%, which amounts to $84,000 a year. The apartment building expenses which include, the expenses, property tax & insurance, the total is $45,000, for a grand total of $129,000 a year expenses all in.
This investment is in great part of Long Beach California, the rents of this building are actual but very low for the area.
When it comes to apartment buildings and its income, I only talked to the clients about its actual take in current rent roll, not about what rents could be, although I explained to my clients there may be some frosting on this building…
My clients are very happy a little over $30,000 a month!
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