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Updated almost 4 years ago,

User Stats

46
Posts
7
Votes
Matthew Karp
Pro Member
7
Votes |
46
Posts

Is this worth persuing?

Matthew Karp
Pro Member
Posted

My first 6 unit in West Haven cT.  its a 5.5 cap.  On a personal level, I have to dig into my cash reserves for the down payment and am worried about it.  After re hab its a 9 cap and my cash on cash is 8-10 percent.  But without a secured loan, I worry that a re fi after 5 years could put me in a dangerous situation.  I do not feel I am buying this below market with equity other than 25% down.  Price is 720k more than I planned to spend to start out.  the psa is complete and they are waiting on a signature and a check and I am consumed with fea.

  • Matthew Karp
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