Updated over 9 years ago on . Most recent reply
Closed on a Three Unit Investment Property
My partner and I just closed on our third investment property. We purchased a three unit for $78,000 with the seller contributing 6% towards closing costs, with an FHA loan (love house hacking). The buildings operating income is $2185, expenses are $1238 (with reserves), and the mortgage payment is $354. A total of $593 with all three units being rented. Because we are living in one of the units, we won't have any cashflow but the other two rents will cover the expenses. We will also be moving out of the duplex we currently live in and getting the cashflow from our 6 units in total.
Looking forward to building our investment portfolio further. And seeking to grow into large investment properties.