BRAND NEW Investor looking for advice on 8 plex building

[Robert Ehrlich]

I have been looking for my way door way into owning rental properties. I have came across a great deal for an 8-plex unit ($225K) where if I was to use the low end of the rental market I would still walk away with a Net Income of $1500/ month. My problem is I have no way of a down payment or anyone who could back me up. Other than losing the opportunity, is there any one with some great ideas?

Romans 8:31

[Tom S.]

@Robert Ehrlich 

You forgot to add into your calculations: future vacancy (it won't alway be fully occupied), evictions /legal fees, capex (roof, painting, heating/AC, appliances to name a few).  The $150 in maintenance for a 8 unit is too low.  I own a 5 unit and I've seen $300 a month in maintenance sometimes.

- Tom