I am looking for the right property type to invest in for the first time. I do not have personal cash to make a down payment on either. They are both withing 20 minutes of my residence. The 4-plex is listed at $129,000 and needs a new roof, each unit needs repairs before I can rent them out. The MHP is listed at $450,000 with 15 lots and a single family home also on the property. Any advice?
You're gonna just have to do the math on it. if you fix up the 4-plex, what will rent be? how much will the repairs cost you. how much is rent for the 15 lot with a single family?? just do the math, it will always tell you which deal is better. Good luck!!
Very true. Each apartment can rent for $750-950 and the lots are rented for $210 and a few 225 they get extra stuff per seller and the house rents for $675. In 2020 he plans to have all lost renting at $225 and the house at $700.