First Quad numbers

[Richard Coleman]

I am looking at a quad in Jacksonville. We have been doing some flipping of single family and now looking to either flip or hold some multi family. Opinions of this deal?

quads 100% full (month to month)

3 @ $450, 1 @ $425 = $1,775 month = $21,300 annual

as of now asking is $70K, nothing owed, no liens

newer roof, A/C, great parking but in a "C" area

So using the 50%- $887.50/$887.50

20% down puts 30 year @ $410ish leaving $477 which is only $120 door.

asking price could come down, rents could go up, would probably section 8

[Douglass Benson]

17.5k a door? I have to assume these are one bedroom units? About all you can do is determine if the price is right, if the maintenance costs are reasonable (newer roof and A/C doesn't necessarily mean there isn't a lot of deferred maintenance waiting for you) and if the neighborhood is going to hold up.

I personally don't have enough info to help you. Good luck!