Better Deals FOMO and Slight Regret
My first property I bought for 500k and will convert the garage into a second unit. The payment including insurance and taxes is $3150 at 6%. Total cost including the garage will be approximately $650k. Expected rents for the entire property between $4k-$4.5k. Now I come to see a place listed at $799k that’s a fourplex in a similar neighborhood with the total gross rents claimed to be $76000 per year and doesn’t look like it needs any work. How do I not kick myself for buying a property like that instead? Obviously I can buy more properties from here however I’m feeling like the one I’ve got isn’t as great as I had thought.