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Calling a agent today. Found a quadplex that will make me 475$ per unit. 500$ goes into morgage. It cost 130k. Any thoughts? It's not in the ghetto. Sort of more industrial area. What should I expect ? FHA loan with a first time home buyers grant work?
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>>1244383
Yeah, I'd take that shit anyday desu. Especially if demand for housing is relatively healthy.
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>>1244399
I think 2-3 are currently rented out. It's my first investment property though
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I wouldn't go for an FHA loan - the PMI is always a turd in the punchbowl and you can't get rid of it without a refi
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>>1244561
Any other options as far as low down payment goes?
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>>1244383
Go to biggerpockets and read up on rental real estate. Learn about the 2% and the 50% rule. Gotta set aside about 10% rent for maintenance and another 10% for potential vacancy.
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>>1244571
Talk to your lender about what products they have to offer.
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Dealing with 4 renters for $1900 of month cash flow.
>JUST
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If you aren't planning on living in it you're going to have to put 25% down.
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>>1244635
I guess I can live in one of the units until I pay it off. Not the best part of town... But whatever.
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>>1244605
I would gladly. It's 20% ROI +
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>>1244668
pls elaborate on how you got that figure
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>>1244800
Less then 20. But 1.9k a month. Off of what? Repairing some shit and keeping it rented... I can hire a friend for that anyway. 1.9k for only 130k. Gladly.
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