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Updated over 1 year ago on . Most recent reply

User Stats

34
Posts
11
Votes
Andrew Gomez
  • Rental Property Investor
11
Votes |
34
Posts

New Construction Fourplex Deal Analyzation

Andrew Gomez
  • Rental Property Investor
Posted

Hey guys,
Had a big update on my fourplex that I previously posted and got my official numbers. I just want to see if anyone else would go after this deal or if im just being played by everyone else
I preface this by my main goal being to build equity as quickly as possible and have something that is generally low maintenance in comparison to an older property 
1) Brand New build  5000 Sq ft Quad - Each quad is a 3/2 with garage 2 story side by side unit 
2) Total Price $859,000  - (Subject appraisal only so far) 

3) Interest Rate Lock at 5% FHA (Bought down rate at $34,000) - - Total Closing at $79000
4) Monthly Payment $4,454 + $1817 (PMI / Insurance) Total - $6277

5) Surrounded by C Class  in Windcrest Texas 
6) total Projected income 3 Units - $1656 ea (Subtracted Property Management 8%) //  $1300 I am making with roommates in my own unit confirmed 
Totaling $6,268

7) Is there anything else I should account for here? Any input on the deal? Is there anything i should shy away from? 
26 years old - final kinda cold feet analysis 

Thanks for the input if any from investors!

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