First Time Home Buyer (4-Plex)

[Steven Kim]

Hello, 

I am trying to purchase my first investment property which is a 4-plex. The listed price is 690000. After contacting the listing agent 2 units are a month to month term and the other 2 are year long terms. 3 units are going for 1780 and one unit is going for 2480. All units are 2 bed and 2.5 bath. The owner pays for all the bills currently 575 per unit, which include water, electricity, internet, and cable. It is fully furnished but a little dated. Taxes a little over 11000 annually and insurance was about 2800. No Hoa. I was trying to see if the advanced investors can give me their input and some advice. I would be moving away from the area this property is in, in a couple months but will 3 hours away. I plan to manage it myself. Please let me know if you need additional information to run numbers to help out! Thank you for your time! 

[Nicholas L.]

@Steven Kim

not at all inappropriate, and i am glad you brought it up.  i am just trying to be candid with you.  there is a lot of sugarcoating of the challenges of real estate going on these days.  buy wrong and you end up like these folks

https://www.biggerpockets.com/forums/48/topics/1137397-balti...

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