(for easier read,
click Dark button –>)
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2.1m, 9 Unit rental near Myrtle Beach
w/ 8 airBnB’d (currently)
& the 9th unit, rental structured to-family , that is (supposed) to leave if needed.
Per the Myrtle Beach realtor
The two family Partners in the business signed a contract
for a larger property to develop
and
both were wanting to sell
now
1 is on the fence, but the money
with a proof of funds
should knock them in the right direction 🙂
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From October 2020 – February 2021 the property went under a complete renovation.
8 of the 9 units is listed on AirBnB.
The 9th is a long term rental for a current family member of the owners.
($950.00 a month)
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The current owners first put the 8 units on AirBnB March of last year.
From March 2021 – September 2021 the property brought in
$169,956.40.
This includes the $950 a month rental, however, you would make it a 9th AirBnB to add over 10% additional revenue.
The net income for those 6 months was $97,766.74
The forecasted numbers are listed below.
Rent Revenue – $275,110.50
Total Expenses – $143,777.50
Net Income – $131,333.00
With a $131,333 net income that puts the average unit
profiting $16,416.62.
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With all 9 units as AirBnB’s forecasted net income will be
$147,749.62.
Net Income / Purchase Price = Cap Rate
$147,749.62 / $147,749.62 = 7.03% Cap Rate
(edit: I see the RE gent made a fun typo =) )
This is a turnkey rental property. All you need to do is purchase and let the current management company do the rest of the work.
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Looking forward to meeting everyone at Clever Summit (or earlier!)
Thanks kindly,
Brian Jones
513-724-4277
Acquisitions@AptRescues.com
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pt. 2 email:
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(9) 1 Br/ 1 Ba
net$131,333.00 /12 = 10,944
$147,749.62 /12 = 12,312
Clearly have to:
1. negotiate bit lower amount
2. increase amount of Year-Round rentals;
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Loan ranges
6% 2.1m 360mo = $12,590 www.BankRate.com/loans/loan-repayment-calculator/
6% 2.0m 360mo = $11,991 www.BankRate.com/loans/loan-repayment-calculator/
6% 1.9m 360mo = $11,391 www.BankRate.com/loans/loan-repayment-calculator/
4.25 2.0m 30yr(360mo)= $9,838 www.Saving.org/loan/loan.php?loan=2,000,000
4.25 1.9m 30yr(360mo)= $9,346 www.Saving.org/loan/loan.php?loan=1,900,000
3% 2.0m 30yr(360mo)= $8,432 https://www.saving.org/loan/loan.php?loan=2,000,000
3% 1.9m 30yr(360mo)= $8,010 https://www.saving.org/loan/loan.php?loan=1,900,000
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Easy to increase marketing via:
Boating events
Boat Trade Shows (any City/State)
There are people that do year-round fishing for
BIG Trophy Fish: Marlins, SawBills, Sharks
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goto local conference center www.MyrtleBeachConventionCenter.com/events/
& hobnob/network,
passing out
Postcards- esp so they can send to family back home- w/ pics of our AirBnB over top of scenic Beach pics
w/ Marlin (& a Shark cage dive)
Needs QR code (Bottom R corner & on back)