Looking for Feedback on Potential 1st Multi-Property Deal

[Ryan Gruenwald]

Hello,

I am a newer real estate investor (currently own 3 rental duplexes) looking for advise/feedback on a recent deal I was presented with. Just hoping for some opinions on whether or not to pursue the offer.

The seller is offering the following: (all properties are owned by the seller free and clear)

Deal city = Indy

- Initial investment = 20% down for 6 duplexes (roughly $60k down total) 

- I agree to pay the seller $550/mo per duplex for 10 years. (regardless if its vacant or not) 

5 out of 6 are currently rented to tenants 

each duplex (assuming fully rented) generates $1k/month in rent, so $6k total 

According to my calculations, it seems like a good deal, the only hangup for me is being locked in to paying the seller $550/mo per duplex for 10 years. 

Would you guys consider taking this deal?  

Thanks,

Ryan