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Updated over 7 years ago on . Most recent reply

User Stats

76
Posts
5
Votes
Shane Brown
  • Rental Property Investor
  • Saint Albans, VT
5
Votes |
76
Posts

Looking for advice on my first potential deal.

Shane Brown
  • Rental Property Investor
  • Saint Albans, VT
Posted
Hey guys, I am interested in buying a multifamily to hold and rent out. The place I'm looking at is currently at $166,000 and recently completely rehabbed. All three of the units are rented out for a total of $2700 a month coming in. There is two 1bed/1baths and a two bedroom one bath. All the units are under lease until atleast June next year. I have about 20,000 to put down as a down payment so the monthly mortgage included taxes, pmi, and principal will be right around 1000. Should I work on pulling the trigger on this place? Thank!

Most Popular Reply

User Stats

2,325
Posts
911
Votes
Antoine Martel
  • Rental Property Investor
  • Miami, FL
911
Votes |
2,325
Posts
Antoine Martel
  • Rental Property Investor
  • Miami, FL
Replied

Shane.

Have you plugged in the numbers to the calculator on bigger pockets? 

Have you taken into account maintenance and vacancy and property management? 

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