u/GroundbreakingBuy886
▲ 15 r/BizBuySell
What’s my property management business worth?
Manage around 300 single family homes in a 20 mile radius.
Net monthly income is around $50-65k monthly. After all expenses. Revenue is around $400k. Been growing around 20% per year.
The make up is management fees on rent we receive, 8% of rent.
Leasing fees. Maintenance fees, and other fees we charge directly to tenants.
Running with 1 virtual admin, a few full time handymen and me working my butt off keeping the whole thing together.
u/GroundbreakingBuy886 — 1 month ago
Just bought a 12 pack of houses, numbers. Am I cooked?
12 single family houses
All rehabbed in last 10 years. All occupied with paying tenants.
$1.735M purchase
Did a 25% down DSCR loan 6.9% with 5 year pre payment. 30 year fixed.
$8,567 P&I monthly
Property taxes and insurance
$5800 monthly
Gross rents are currently
$19,200
The big selling point for me was the package appraised for $2.4M. I’m a realtor in the area and this is true market value from comps I pulled.
What do you guys think?
u/GroundbreakingBuy886 — 2 months ago
About to hit 100 SFH rentals. How many of us are out there?
Bought first one in 2012. Been buying yearly since. Most are down to studs rehabs. All within 30 mile radius. Around 45% LTV across the portfolio and average rents around $1500-1600. But a range from $1000-3400 a door.
Anybody else running a larger SFH portfolio out there?
u/GroundbreakingBuy886 — 3 months ago