Quadplex Analysis
Hey BP!
Considering my 1st purchase... I ran it through the BP rental calc and it cash flowed $28... I'm hoping I did something wrong!
Anyway, what do you think??? Here are the numbers:
Property - FHA Owner-occ Quad
Purchase - $180k
Downpayment - $6,300 (3.5%)
Mortgaged Amt - $173,700
Mortgage - $1,250 (including taxes & insurance)
3 highest (current) rents - $1,765 (total/mo)
Cash flow - ???
I know I'm probably paying too much....I'm going to ask for a price of $165k, and see what happens..
Is this the worst deal in the world, or is there hope? I'll move on if the numbers don't work....no attachment to the property :)