Updated about 19 years ago on . Most recent reply
Million dollar deal
So I've been offered the opportunity to buy a 4 6-plexes at a group discount. I dont have too much info yet except that the rents are $17,200/month and if I were to be able to buy all the units at once I could likely get them for a million bucks. Now - I'm not sure where the heck I'd get the million bucks. I doubt they do commercial loans with 5%- 10% down, but theoretically it doesn't sound too bad.
It sounds like a lot of cash flow especially in CT, but this is also ghetto central - high maintenance, shootings outside, I'd be scared to go there. Something tells me to just wipe it out of my mind right now, but I'm just wondering what would you think? Worth a little more thought?