Looking to purchase a Quadraplex. Here are the numbers.
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Hello Rashad, I have a couple of questions that may help me get a better idea of your situation:
1) Does the estimated monthly payment include taxes and insurance? or is that simply principal and interest? (I'm going to go ahead and assume that it is only principal and interest since you quoted the taxes separately.)
2) Since the taxes are assumed to be separate, the monthly cash flow is now reduced to $491 ($751 - $260; which is $3,110/12=259.16). It will be reduced even more in the event the insurance isn't included as well.
3) What other expenses can you expect throughout the year? (i.e. vacancy, minor repairs, utilities, HOA, management fees, etc...)
4) How is the property in terms of necessary repairs? Is it good to go or are there some major items that would need to get taken care of immediately?