Need help to analyze a deal. Thanks!

[Tianyun Zhang]

Hi BP community,

I recently came across a 4-plex on MLS. All units are 2 bd 1 bath. It is located in White Lake Township, MI. The asking price is 350K. The rent is 950 a month per unit. The seller is willing to do a land contract with 75k down, 7% interest and 60 months with a monthly payment of 2500. Currently the rent includes water, snow removal, lawn care. I will see if I can let the tenants pay the water.

    I haven't seen the building yet and my agent is working to get more details, but I was just wondering according to the numbers so far, do they make sense? In what ways can I negotiate the deal a little bit more?

    Thank you so much! And if anyone wants to partner in this deal, feel free to reach out to me. 

[Eric Adobo]

Don't do land contract. Get your name on title.