Making moves on our first buy
Hey guys, my girlfriend and I are putting our first offer in on our first buy and I would love your thoughts/insights.
Located in Sacramento CA, in foot hill farms.
4 plex
Built 1965
Remodeled in 2014
Lot sq ft. 8202
Each building = about 935 sq ft each
All 4 are rented out. 1@750 1@825 1@800 and 1@650. Very strange leasing by owner/PM.
3 leases will be up by June, the 4th was just signed for 1 year.
Annual utilities 3247
Annual ins. 1751
Taxes 2785
HOA= 250 (which handle, tree maintenance,street maintenance, garbage, private security.)
List price 327500
3025 rental income as it sits.
We are pre approved for an fha loan at 4.125% at 5% down.
Need anything more?
We are hoping to begin our investment journey with buy and holds with at least 100$ cash flow a month. We both have full time jobs, so if problems occur with tenants, we will most likely look at hiring a Property management.
Thank you!