1st Property having a lot of questions/doubt...

[John Davis]

To all pls provide me some feedback,

I've narrowed it down to an Triplex, 130k asking price. Total monthly rents 1650.00, monthly expenses $953, monthly cashflow is 697, Im considering offering 115k and pay closing cost to create the 697 cashflow.

Problems 

- only 16months of rent rolls averaging $540 per unit over that period.

- Unit is in an rural area very small community no PM team in the area, I live hour away. The place needs some small projects nothing MAJOR.

- Feeling like Im missing something.

It looks like an good property inside and out(pending home inspection).

Jd

[Dante Pirouz]

You won't know until you make an offer and get the details of the deal nailed down with the selle. In making an offer the only risk as long as the offer is written properly is that you might lose some of your earnest money (I do HUD deals so that happens sometimes with their bids) but other than that I suggest if your initial analysis looks strong put in your low ball offer and see if there is a counter or acceptance. Once the deal is accepted you can do an inspection which will tell you more. You'll never know all the warts of the property until you've owned it for a while but that's part and parcel of this business. Make the offer and let us know what happens!