Updated about 6 years ago on . Most recent reply
$700k 4-family in Philly area
How do such deals look like ? Possible income and expenses?
$5000-7000 monthly gross rent ?
easy to owner manage ?
Most Popular Reply
No - the luxury apt scenario that you are referencing is not possible. It may have been a few years back.
It’s very easy to figure this out on your own. Look at what’s selling in the city. (Center city) in this case what the properties are selling for and what the average rents are.
Since you are borrowing money, in this scenario after all your expenses, you would be lucky to break even. That makes your investment a pure equity play. (At best)
If you are looking to cash flow, it’s possible in less nice areas but it’s more of a headache. After management fee expenses it still may not be worth your while.