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Updated almost 14 years ago on . Most recent reply

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48
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Mel Rosario
  • Real Estate Investor
  • rancho cucamonga, CA
0
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48
Posts

condo vs multiplex investment, please help me decide

Mel Rosario
  • Real Estate Investor
  • rancho cucamonga, CA
Posted

First of all, thank you for all your input to my earlier posts.

I am in California and looking at a condominium to buy as an investment 125k. I also saw a multiplex let say it's about 750k.

Here are the information what i can gather:
condo: i can fully pay this off at 125k or LOC at about 3% (3600/yr), rent can be about 1350/mo (16k/yr) and mgmt say 10% ($1350/yr) to make it easy. Accounting for vacancies will be low as I have several properties in this area and not had more than a month's vacancy in over 5yrs now.

The quad is 795k, all 2/1 collecting about 62k/yr. with a 30% down, and at 6% non owner occupied interest, along with 2k/yr insurance, 8k/yr prop taxes, 4500/yr hoa, 5000/yr maintenance and com utilities

i think the better deal cash flow would be the condo, it may not appreaciate as much but, i'll be pocketing 10-13k/yr and this is not a long hold, will sell in about 5yrs.

any input? if this works, i can buy 2 condos instead of putting 30% down on a quad and make a little more in the short term.

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