Texas Multifamily Question
Hi all. Somewhat new to bigger pockets as well as rei. I currently house hack a duplex in the Ft Worth area and it is going great! I'm currently in negotiations on a fourplex that is also on the Ft Wortg area and would like hear what other thought of the deal. Here's in the info.
Cost: 350k
Current Rents: 3200
Market Rents: 3600
20% down ($70k)
Closing costs: $7k (paying more points for better interest rate)
Interest Rate: 4%
Estimated Mortgage: 2030
Property is built in 80's and would likely need new ac and heating equipment installed. I have access to an inspection and I estimate it would cost $40k in eventual repairs.
Been tossing and turning this one for a while now. Seller won't go any lower than $350. Any help is much appreciated!!