Updated almost 6 years ago on . Most recent reply
Please help did I Brrrr this wrong
I purchased a 4-plex in Tucson for 140k (35k) down with another 5k for closing costs. I receive 1549 in rent in my mortgage is 740. However the place is a dump! The rehab is about 40-50k. I’ll be all in about 85k what do I need my appraisal to be to receive my 85K back? I think I messed this up big time!
Most Popular Reply
Just because you can't get all your money out doesn't mean it's a disaster. If the property cash flows once you have it up to standard, hold it and move forward from there. In 5 years it may have better numbers.