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Updated almost 7 years ago on . Most recent reply

User Stats

24
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8
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Javier Arbelaez
  • Powder Springs, GA
8
Votes |
24
Posts

C Class 6-Plex. Good starting property?

Javier Arbelaez
  • Powder Springs, GA
Posted

Hey BP,

I found a 6 plex property near me that the numbers look good in terms of cash flow. It was built in 1965, 4 2bed/1bath & 2 1bed/1bath. They are asking for $313,000 for sales price with rents at $3200. Doesn't need much renovation for each unit. The schools are good BUT it is about 1 to 2 miles away from a medium crime area (based on trulia). Is that something that is too close to the property to consider? I don't want a property that is going to be a constant worry or attract a lower quality tenant. Also, is there a way to fund the down payment since I don't have 60k to put down? I am trying to figure out a way that makes sense and still allows me to cash flow.

Thanks so much for any help!

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