Can someone give me direction on a property.
3 unit property 90k won’t be ready until October with cash flow of 700 if I live in one unit. Down side is There’s an industrial lot across the street and it’s an off market verbal agreement.
2 unit for 60k outdated but the rehab would be 15k for simple touch ups. It’s ready to buy now. Better neighborhood. Cash flow 300 if I live in one unit.
I know the three unit has a higher cash flow but it won’t be ready until October and the two unit is ready now and in a better neighborhood.
Can I get guidance from a seasoned investor!
Anything that cheap is probably going to need quite a bit of work, I'd also run your numbers again to be sure you've accounted for every expense because they seem almost too good to be true. In this price point and likely quality band I'd go for the better area every time.