My first deal in a small college town... a go or a no? 😅

[Stephanie Boyd]

we are working on our first property to buy. It's a 4 apartment upstairs 2 commercial spaces downstairs that are all rented out currently. The income is $2,375 a month, and the expenses Would be $650 plus the 15 year mortgage of $500 without capital expenses.  The town has a college which is 2 blocks from this building, and from everything I can search, there is a definite lack of available apartments to rent. On the scary side, one of the big local employers is *possibly* leaving the area, but chamber of commerce says there's another big company *possibly* in negotiations to come into the town. The question is; do we let the big company leaving scare us, when the apartments are most of the income? ($1700) And, for that matter, does the math look good on this deal? Thank you so much for your help, they're right the first deal is scary!