Potential First Property

[Jay Holder]

I have a potential first property that I want to purchase:

PP:130k for a Triplex

Total Rent $2025 all 3 units have tenants 

Monthly expense is 1500

For financing I am looking at private loan with 0% down. I would have the 130K plus 30K to rehab the property. If I could secure the loan in this amount and at the current % or below then my COC is at 38%. After the rehabbing, I would look to increase the rent on the property.

Based on these numbers, I think that this is a great investment to make but would love your thoughts.