Please help 4 plex

[Greg P.]

Hello, I am planning on purchasing a 4 plex and wondering if anyone could help me work the numbers. Purchasing on a Contract for deed. Purchase price $120k, 5.5% interest over 30 years. $7500 down. No Balloon. New Roof. Total rents $2200, fully rented and has a long waiting list. Tougher area but not warzone. Still need to get expenses, but owner pays for gas, electric etc. Is this a deal to pursue? Thank you!

[Robert Mack]

I'd also be careful if the owner pays utilities. These can get out of hand as you have no control over them and what does the tenant care if he blasts the heat 24/7 and keeps the windows open at the same time... their not paying... you are x 4