New real estate investor
Hello,
I am a new real estate investor from NJ who is currently based in the DC metro. I don't feel that there are good deals to be had in either of these areas, so I am interested in long-distance investing.
I am currently in the process of closing on a home in the Midwest, and would love to get your opinion on whether you think it is a good value. It seems to me that it is -- it is a 6-unit home, total rent is $2,350/month, and the accepted offer price is $82,000. However, it is very old (built in 1895) and I am afraid of potentially high expenses. Also, I definitely need to hire a property manager, so please let me know if you have any tips on finding a reliable and experienced property manager.
Please private message me if you are willing to help, and I will send you a link to the offering memorandum which contains a breakdown of financial information.
Thanks so much,
Joyce