DECISIONS DECISIONS! Which property to buy?
Hello All!
I am on the verge of making my first offer on a rental property, but need to decide between two great options.
The First: Is a newly remodeled duplex walking distance from the college campus. It would produce about $593 in net monthly cash flow, I would not have to put too much work into it, and since it is walking distance from a University it would consistently remain rented (I see this as the safer option).
The Second: Is a fourplex which is currently 100% rented. Upon doing my analysis I could make about $2000 net monthly cash flow. However, I am not able to see the current state of the units, and being that it is a fourplex, I want to be careful to not bite off more than I can chew for my first investment. Then again, more risk more reward.
Would love to hear any input you guys might have here
Thanks!
GB