Should I pursue this deal?
Hi everyone,
I'm trying to analyze this deal. The numbers looks awesome to me, but I'm struggling to find financing that will make it worth buying the deal.
It's a 6 unit property in Keansburg, NJ.
Total Rent = $5,775.00/month... $69,300.00/year
Total Expenses = $27,935.00/year
NOI = $41,365.00
The asking price is $389,900. I think the numbers look good, but I have no experience and I really want to get started in real estate investing. I don't want go jump into a deal just to get a deal done. So I'm looking for someone with experience to analyze this deal and let me know if they think it's worth looking for financing. I can probably manage to put 10% down, too.
If there's any additional info needed, please let me know.
Thanks,
Kyle Shook