Updated about 6 years ago on . Most recent reply
Multi-family analyzing the numbers
My partner and I came across a multifamily property. It has a total of 4 units and is listed at 500K...Three 1 bedrooms and 1 studio. Any advice on how to analyze the numbers to see if it would make sense? We would house hack and live in 1 of the units and rent out the others. We plugged it into the rental tool and we are still unclear. Any advice would be helpful. Are there any key metrics to look out for in deciding if it makes sense? We also applied the 1% rule...and when we did that, the total rental income is slightly less than the purchase price. Thank you all. We are still learning and want to buy our first investment soon.