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Updated almost 10 years ago,

User Stats

5
Posts
0
Votes
Crystal L.
  • Tucson, AZ
0
Votes |
5
Posts

Numbers like good but nervous as it's my 1st property .. just do it?

Crystal L.
  • Tucson, AZ
Posted

How long did it take you to get over your fears and doubts and just go for it?

Scenario:

$150000 for 6 1bed 1bath units (3 duplexes). Monthly rental income is $2400, w/ 50% rule NOI is 1200/mo, 20% down 15yr mortgage is $834/mo so cash flow is $366/mo, ROI is 15%, cap rate is 10%, 1-2% rule is 1.6%. To me this looks good. Planning to buy and hold. Area is decent, no deferred maintenance, have property manager, all units fully occupied.

I've got enough cash to do 3-5 deals like this. Does this look reasonable, or would the BP gurus suggest I instead look to put the whole sum in one larger complex?

Thanks in advance, you guys are the best :)

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