Multi-Family and Apartment Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 3 years ago,
Newbie needs help with 12 unit
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.