Would love some input on investment or opinion. Thank you

[Reyes Tena-Martinez]

Hello again guys!! I posted about my first investment (fully paid off not to brag) and am now living in my second home. I came across a fourplex opportunity. I want a second opinion since the housing market has no clue what can happen. The numbers are as follows: The investment cost base price is $690,000, Gross monthly income is an average of $6200 per month, Fees are $2412 including 10% property management fee, Taxes, Insurance, Community Fees, and 1% Repair since the property are new construction. The location is great right next to the country club and schools. They base it on a 5% Vacancy rate and the estimated return on investment is 6% which is really low compared to the stock market or money market account for this amount of risk. There have been 30 fourplexes sold with 30 left, it is a gated community. So, the fear I have is minimal cash flow, property management would make more than the actual investor and the investor is taking the risk. It's being offered to the public investor why hasn't an accredited investor picked up this opportunity? Now the pros are the location, 30 lots have been sold meaning there is an interest in this investment. Buying a house is a lot harder than renting. I would have said no but what gets me is the location and fear of missing out and not being able to get this opportunity again, especially in a gated community. Usually, these deals are taken by the bigger investor. Ask me questions I need advice. Thank you for your time Also I would be coming in with a 20% down payment. Checked with my lender and the mortgage payment would be at $4681..

[Reyes Tena-Martinez]

Quote from @Percy N.:

Reyes, where is this located? We are considering something like this in FL if the numbers work. The challenge seems to be finding the right loan product for buying 20-50 units while the builder's lender is geared for individual purchases.

Also curious why you paid off your first property, especially if it was at a low interest rate?

 Hello, these fourplexes are located in New Mexico. I still haven't said yes trying to get as many points of view as possible. Great question, Three years ago I was hit by a semi while on foot. I lost my leg above the knee and since then I have had a different perspective on life. Everyone is always scared to lose their home. I wanted to feel that if the unexpected ever happened again, I would always have shelter over my family's head. I can take many risks, but I will always know that if I were to lose it all. I have my life insurance waiting for me in my 1st home. You don't have to lose it all when you fail because you'll always have that one door that will always be open. So now whatever real estate investment I make good or bad it doesn't matter. I'll always come home.