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Practice problem If I am buying a property for 1 0 million. The lender finance 6 0 % at 6 % fixed mortgage for 5

Practice problem

If I am buying a property for

10

million. The lender finance

60 %

6 %

fixed mortgage for

5

years and

4, 000, 000

that you will pay in cash. There are

18

units rented for $

2000

monthly each. Annual expense is $

398400

and NOI is $

830, 400 .

What is the cash flow?

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