Eli, I’m trying to do a deal where I’m using my other rental property for colateral so I am not use my own cash. Would a cap rate of 10% or 10.5% be cosidered a good deal the cash on cash is going to be around 17 - 18% with me not puting anything into the deal up front. I will be clearing about 20k after all expenses and Debt services is taking out. Whats your opinion?
For me it is good deal if you know the area you are going to buy otherwise I am in the same situation but not finding deal.There are lot MHP in market but not many with which truley justify cap rate even above 10% is difficult unless you are a good negotiator.