no cash flow for multi family, worth it?
Hi All!
I found a triplex in a A class area but will only break even when I move out of my unit.
Estimate will appreciate over the years. new constructions, apartment complex are coming next year in the surroundings.
asking price for the unit is 500k, I will use a fha.
realistically should probably offer below asking price to produce cash flow but I will likely lose it in this competitive area.
PMI is really taking a big chunk of my cash flow.
convention loan will require 15% down which will be 75000 down but I only have close to 30000 now.
Any thoughts?
Main reason I consider this is really close to my primary house and easy to manage & maintain
Most Popular Reply
#5 All Forums Contributor
- Plymouth, MI
The answer is NO. Also, you seem to think that it is more important to be a property collector than a money collector ("...realistically should probably offer below asking price to produce cash flow but I will likely lose it in this competitive area."), so I wouldn't do it, but losing money, or not making money, doesn't seem to be a problem for you,...so what the heck.