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Carl C.
  • Investor
  • lansing, MI
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29
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4 plex thoughts ?

Carl C.
  • Investor
  • lansing, MI
Posted Mar 9 2015, 21:35

hello biggerpockets community

I have been an avid reader of this site for the last few months , and this is my first post.

My wife and I purchased a 4 Plex in Oct

Built in 1995

Purchase price $175,000

Rents are $665 per unit = $2660 total minus our unit so actually $1995

We purchased it FHA 3.5% down owner occupied

Mortgage/PMI/taxes/insurance is $1880.

"Taxes are high at $6500 "

Each unit has separate

Furnace,hot water heater,washer,dryer. They pay there own electric,water,gas. 

We paid for the trash service $45 a month. 

Newest tenant has lived there 2 years,followed by 6, 7 years. 

Granted we already own it. But how did we do ?

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