[Calc Review] Help me analyze this deal
Short version: I am new to analysing deals - can you help vet my report here and tell me if this looks like a good deal? I think it does based on my limited understanding, but would love to validate that with experienced folks in this forum.
Longer version: Hi Team! I am a newbie to real estate investing. I have 1 mortgage already (about 260K left) for a condo that I have rented out to tenants.
I am looking for my next deal and trying to find something that allows me to house hack & generate decent cash flow that I can put into more properties later (I also save from my W2 job - this would just be supplemental cash flow). My strategy for this was to look at multifamily properties where I can do short-term rentals (AirBnb etc) & house hack at the same time.
I found this quadruplex - each unit is 1 bed, 1 bath, in an amazing area of Dallas that has local attractions and is also 1 mile from a hospital (travel nurse market). It is fairly updated. I might just look at improving the flooring in the bathrooms, repainting the units white & changing out some fixtures (doorknobs etc)
I am new to analysing deals - can you help vet my report here and tell me if this looks like a good deal? I think it does based on my limited understanding, but would love to validate that with experienced folks in this forum. I think $1 million+ is a lot to pay in the Dallas market, but I'd be willing to pursue this if it generates cash flow and could help set me up well for additional deals. The location of this place could not be better.
Thank you so much!!
*This link comes directly from our calculators, based on information input by the member who posted.