All Forum Posts by: Dawson Burton

Would you buy an investment property that's a 4 plex with a pool? Or no? 

@Kate Sanchez thank you!! 

@Keenan Cromshaw I definitely would agree with you on that! 

@Nicholas L. Thank you for the help! I will say I am looking at a 4 plex right now that will cash flow like 500 dollars a month and I will be living for free there. Would this be a smart move? 

@Bill B. Where are you finding properties that will do this? 

What is good cash flow for a rental property? What numbers should I be aiming for? 

@Miller McSwain wow that's awesome! I need to talk to you about that! 

Hey BP community,

I came across an interesting property and wanted to get some outside perspective before I move further.

It’s a single-family home that’s been converted into a 6-unit pad split. Each unit has its own kitchen setup (full stove/oven, dishwasher, fridge, etc.), bathroom, living room space, and some units are bigger than others. Asking price is about $209,000.

Here’s what I’ve noticed so far:

• Foundation work: definitely needs to be inspected, most likely repaired.
• AC: 4 new units, 2 fairly new, 1 old.
• Roof: needs inspection.
• Exterior: trees need to be removed, new windows needed, new front porch, repainting, trim, fixing wood rot.
• Parking/Access: back parking lot probably needs to be redone, back stairs may need to be replaced.

Financials:

• Cash flow is projected around $30,000/year.
• Cash return sits in the 12–14% range based on my analysis.

Here’s my hesitation: a big commercial real estate guy I spoke to locally told me this kind of property would turn me into a “slumlord” and that I shouldn’t touch it.

On the flip side, the cash flow and return numbers are attractive—especially at this price point. I know deferred maintenance and tenant quality are the biggest risks in a setup like this, but I want to see if it’s worth a closer look.

Questions for the group:

• Has anyone here owned or managed a property like this (pad split with full kitchens)?
• Do you think the risk of becoming a “slumlord” is as high as people say, or is it more about how you manage it?
• Would you pass on this deal because of the repairs/tenant class concerns, or is this worth pursuing further if inspections come back okay?

Appreciate any thoughts, experiences, or red flags you’d look for in something like this!

@Chris Grenzig awesome I appreciate your help!

@Greg Scott 

Thank you for that!

We’re looking to move because we’re still young—I’m 23 and my fiancée is 20—and we’ve been wanting to head out to either Florida or Texas since both of our families are there. I have the flexibility to relocate because of my job coaching football, and she’s finishing up school, so she hasn’t started working yet.