Investing in Columbus real estate market
Hello All,
I am a first time investor recently purchased two multifamily properties (4 units) - 3 are currently rented and 1 is under rehab. the properties are in not so good area but has a potential to generate positive cash flow if all are rented with min maintenance. I have a property manager who manages these units as I am a full time employee. I am looking to build a network of local contractors and property managers in Columbus area. so far the properties have not generated any cash flow as i had spent rehabbing them. I wanted to know is this a right approach of investing ?
here are some numbers spent around 75k for 2 multi family(4 units) spent around 10k in rehabbing 3 units and are rented, i have the 4th one which needs rehab but iam out of funds and waiting for cashflow from the 3 rentals so i can fix the 4th unit.
Thx
Sachin