First multi unit investiment

[Brandon Ribeiro]

I’m currently looking around on the market for some ideas for my next property. I currently live in my first property, and plan on moving out after my first year this fall and renting it out.

I came across a property on 6 acres, it’s a farm house with several buildings. And 4 total units on the property as well as some pole barns (one with a vehicle lift) that can be rented out as well.

The asking price is 310k. Taxes are 9k/ year (I know this is high but it’s the area it’s in) the properties have 2 septic tanks, of which both need to be replaced and some renovations on the units would need to be done as well.

Any thoughts/ suggestions?