Potential Investment Advice
I have some experience with 3 buy-hold SFH and want to take a bigger step into commercial and/or MFR.
I would appreciate some opinions on evaluating this deal:
Property with 3 older, run-down houses which contains a total of 5 rentals units generating $3,500 monthly rental income. Land is a corner lot 0.64 acres and has been approved for multi-use by the city. Lot is blocks away from a university. Annual taxes are about $5,500.
I have so many questions but here are some of the most pressing:
- What is a reasonable expectation of mortgage LTV amount and interest rate?
- What other considerations should I think about?
Thanks in advance for your help.