my first deal
hello all. My first deal is a multi family. It has 2 1 bedroom apartments with tenants In place. Income is 800 a month per apartment and my expenses are 157 a month for gas and electric. 5600 for taxes 1100 for insurance water and sewer are 200 a year. I am going into contract soon. The house is decent minor issues to fix. The asking was 99000 I got it down to 91000 and the estimated value is 115000. I believe the deal is decent and I hope all goes as planned. I hope to be working on another deal soon after this As long as this works out for me. I am planning to raise the rents 50 a month per unit to give a little better cashflow.