Updated over 4 years ago on . Most recent reply
Is this worth persuing?
My first 6 unit in West Haven cT. its a 5.5 cap. On a personal level, I have to dig into my cash reserves for the down payment and am worried about it. After re hab its a 9 cap and my cash on cash is 8-10 percent. But without a secured loan, I worry that a re fi after 5 years could put me in a dangerous situation. I do not feel I am buying this below market with equity other than 25% down. Price is 720k more than I planned to spend to start out. the psa is complete and they are waiting on a signature and a check and I am consumed with fea.