Updated over 11 years ago on . Most recent reply
New investor first deal
My name is Michael Ridley and I am an aspiring real estate investor. I know I want to invest in small multifamily units in urban markets;However, I have a dilemma. I don't have a lot of money to work with right now. About $10,000. There is a property I want to buy and I was wondering how I should approach this deal. Just from the numbers standpoint, can anyone tell me if this sounds okay. Here are the numbers. 2BED 1BATH Seller is offering owner financing Terms $24,000 with $10K down for a 4 Yr Term at 3% interest rate. Monthly rent $418.72 both sides includes property tax. (Duplex)