Updated about 12 years ago on . Most recent reply
Advice on investment deal please
Hi everyone,
This is my first post on this forum. I'm fairly new to real estate investing and I am going to look at my first possible investment property in a few days and could use some advice from experienced investors please.
The property is a 3 unit triplex priced at 299,000 in the chicago area. Since I have minimal credit the owner has agreed to carry the mortgage with a down payment. The problem is he is charging his tenants fairly low rent (less than $1,000) for each unit so I do not know if I will be profit enough each month. I am attempting to crunch numbers right now but I am not sure what to include beside mortgage, taxes, and insurance. So, my question is what else should I include?
Thanks for reading,
-Z