2x 4plex deal, need some advise
Hi everyone, I am around the Tulsa nw Arkansas area. I work full-time. I have one in the rental property that used to be my primary residence
. That property is in the process of being sold, The cash flow is under $100 a month on the single-family which isn't worth it for me.
I am looking at 4 Plexes for sale eight units in total.
The price is $200,000 each so a total of $400,000 for the acquisition. At 20% down plus closing I would be into the property is roughly $100,000
The properties were built into thousand six and each unit rents for $600 a month. Property taxes are $1100 a year flood insurance is $900 a year.
Downfall is it is not a metro Plex it is more of a rural community. I am not looking to sell the property I am looking to build a new portfolio of multi family that can take over my job someday.
My question is the numbers look great on this deal, I am a little reluctant to move forward because the numbers are so good. Should I be concerned or am I over analyzing?