Updated almost 7 years ago on . Most recent reply
Hesitant on My First Deal
Hey guys I have a great opportunity for my first deal! It’s 8 units that will cost me around 600k and will net around 87k w/ 5% repairs, insurance, and tax. They are older homes which will need upkeep. I plan to request more info from the seller regarding actual rent breakdown, hard costs, etc. Since this is my first deal, I would be much more comfortable bringing in a partner.
Any tips are appreicated!!!!
Most Popular Reply
Learn the numbers and add lots of cushion for unknowns. Especially with them being older homes. One of my early deals years ago taught me that lesson when the roof caved in after a snow storm. Always add extra to all your costs to help insulate you from any surprises.