All Forum Posts by: Charli Deeser

Seller raised rents to this amount as he made improvements mentioned in original post. Rents could be raised (don’t see why not) when leases are up next year😧 If section 8 tenants continue,  I’d need to ask permission from housing authority is my understanding if not, look for a non section 8 tenant. taxes about $6200. Of course when it’s not owner occupied there’s opportunity to collect up to $780 or so on the owner occupied unit which is updated.

quadruplex 355k. Financing: conventional owner occupied. units rent for $650 $650 $700. (Two tenants Section 8). 3 units have been updated w tile and paint. All 4 have new evaporative cooling. Owner occupied unit can rent for up to $780 at the moment.  Close to grocery, little restaurants, Starbucks. 
Previous appraisal $360k. Neighboring properties are not updated and would not be similarly appraised (I think).

Would this be decent deal to start? What could I be missing in order to make a more informed decision? 
One concern is overpaying in this market and hurting cashflow which may be skimpy first 6-12 months.