Sold as a Package - 4 Homes in Detroit
I am looking to get my first rental property as an investor. On MLS, I came across a package deal for four homes.
Home 1 - $60k, $934 taxes, currently renting for $800
Home 2 - $55k, $2090 taxes, currently renting for $700
Home 3 - $65k, $1613 taxes, currently renting for $750
Home 4 - $25k, shares parcel of land with Home 3 so I'm sure taxes are included with it, currently renting for $250
Totaling $205k, $4637 taxes, $2500 in rent
This package can be bought in cash or with conventional loan. Does anyone have experience with purchasing packaged deals? And from your experience, what were the pros and cons?