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Real Estate Deal Analysis & Advice

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Mo Thomas
Pro Member
  • Real Estate Investor
  • East Meadow, NY
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35
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5 condo deal

Mo Thomas
Pro Member
  • Real Estate Investor
  • East Meadow, NY
Posted Mar 14 2014, 12:39

I am purchasing 5 condos at $16000 a piece. Total price 81,000. Four 2 bedrooms and One 1 bedroom. 2 bedrooms rent for 650 and the one bedroom will rent for 500. HOA is $159 a piece include water, sewer and trash. Taxes are $350 a year average and insurance is approximately the same. Each condo needs approximately $5,000.00 in work. Is this a good deal?

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