Updated almost 4 years ago on . Most recent reply
$1,000,000+ First Property
Looking to buy a four-plex in the Seattle area as my first rental property. However they all seem to be selling for $1,000,000+. Is that amount too ambitious for a first time investor? I would be living in one of the units and would use 3.5% with an FHA loan for the down payment. Let me know what y'all think, thanks. :)
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@Jayden Melo, Median sale price is $885K for one unit. A fourplex can easily go more than $1M in Seattle. You will just need to run the numbers. As long as you have cash flow, you are good. That said, with very little money down like 3.5% FHA loan, getting +ve cash flow may not be an easy task