Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago,

User Stats

36
Posts
17
Votes
Dan Crenshaw
  • Brick, NJ
17
Votes |
36
Posts

Advice needed on first multi

Dan Crenshaw
  • Brick, NJ
Posted

I ran into a little bit of a snag, and need a little help.  The 4 family property I have under contract under-appraised, but just slightly. Here are the details:

Purchase price: $439,000

Down payment: 5%

Property taxes: $7100

Gross rent: $4800

PITI with PMI: $3088

Other expenses: $1000

(Calculated) Monthly cashflow: approx. $700

Appraised at $435,000 and the seller is not willing to come down to that price, so I'd have to come out of pocket the other $4k. If my math is right, the numbers still look pretty good, but I'm still somewhat new to this whole thing. Any and all help and advice would be greatly appreciated. Thanks!

Loading replies...