Good Investment?

[Robert Burns]

I found this multiple unit property today and am talking with the owner. The numbers look good for a buy and hold property for my portfolio.

Multiple Units:

1 - 2br/1ba frame house in good condition w/ 1 year lease for $850/mo.
3 - Garage apts (2br/1ba upstairs & (2) 1br/1ba) downstairs in good condition w/1 year leases for $700 & 550/mo respectively.
Utilities expense: $700/mo.

Total Rent/mo: $2,650
- $700/mo Utilites
- $92/mo Ins

Positive Cash Flow/mo: $1,858

Asking: $130,000

Am I missing anything?

[Account Closed]

Besides what J Scott has mentioned do you know if the garage apartments are conforming? What is the vacancy like? Is their separate access to each of the garage apartments?

You'll want to do other due diligence besides just the numbers.