Updated almost 7 years ago on . Most recent reply
Potential multifamily purchase
Hello, I have a potential deal I'm about to close on in Philadelphia PA. It is a multifamily duplex in point breeze area for $210,000. The taxes on this property is about $1,800 a year. I would live in one unit, while renting the second unit for $1,400. After 1 year I could rent my unit for $1,200 bringing in $2,600 a month. I would obtain this property by using an fha loan with only 3.5% down. Would this be a good deal to move forward with. I am also a first time investor looking to house hack.