Updated almost 9 years ago on . Most recent reply
Quadplex Purchase Inquiry
I just wanted to get other people's opinion on this sale (I've already ran the numbers on the calculator). I'm looking at a quadplex that already has multiple offers. I will be living in one of the units and the other three will rent out for $700 each ($2,100 total rental income). The asking price is $280,000. Annual property taxes are $2,820. I'm guesstimating insurance will be around $1,200 annually. I will be using a property manager and I only have to pay for the grass maintenance. This will be a buy and hold property and let's assume I won't have to put anything up front with a 4% APY. To me this is expensive for an investment but I'm considering it because it's in a very good neighborhood. Anything thoughts? Thanks in advance!