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Updated about 3 years ago,

User Stats

8
Posts
2
Votes
Austin Sluder
2
Votes |
8
Posts

Newbie needs help with 12 unit

Austin Sluder
Posted

I am looking at a 12 unit for 550,000, my question is should I try to find a lender for the entire purchase price, or just for the down payment? I haven't secured any loans from anyone before so I'm not sure if I should try to get the lower rate on the majority of the price and hard money on the down payment? I wasn't sure on how much the insurance would be but I plugged in the rest of the numbers that I got from the agent and its showing it cash flowing $2300 after expenses and then I would have to figure out the cost of the down payment but I'm thinking it would still cashflow $1000 easily after that expense. Is that a good enough return on that big of an investment? I can send you the pdf of the numbers I ran if you'd be interested.

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