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Commercial Real Estate Investing

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Andrew Michaud
  • Bangor, ME
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Do I have enough funds to purchase this 60k 5plex?

Andrew Michaud
  • Bangor, ME
Posted Apr 29 2017, 11:56

I got approved at the credit union today. 60k purchase, 12k down, so a 48k loan. Plus 2k to 3k in closing costs. After all of those expenses I will have about 6k to my name. Is that enough? I have two jobs I make money from, and this property is a 5 unit all occupied bringing in its own cash. I see a 100% ROI after the first year. 6k enough set aside? Will have more as the months pass on and paychecks/tenant pay comes in.

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