Location? Location? Location?

[Jonathan Ramsuchit]

Hey everyone!

Everyone heres location, location, location all the time. Is this really true? All the multifamily homes I find that the numbers work are in areas that aren't that good or safe.

For example:

I found 3 triplex that is selling for 180k owner financed. works out to 60k each

7 units already occupied at 400/month = 2800 gross rent

one of the triplex needs some work but I feel like I can cash flow 1500 /month on this even with 100% financing!

It saves me a lot of costs since 'm buying 3 properties in one

Since it is owner financing I can get out of a lot of closing costs and I also assume banks wont see it if I need to get conventional financing for a second property.

Let me know what you guys think. This will be my first purchase so please bear with me guys.

Thanks!

Jonathan