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Updated 1 day ago on . Most recent reply
Real estate investor
#3 New Member Introductions Contributor
Hi there! I'm looking to purchase my first multi family home in the city of Colombus and am looking for the hard numbers, metrics I should be on the lookout for, and sample properties to get my hands wet as far as what's considered a good deal and area to invest in. Any feedback and suggestions with examples to get started would be much appreciated. I am looking for 6% yield minimum on my cash with 40k-60k down payment. Additionally any pros/cons for using FHA loan would also be much appreciated, thanks!
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#3 Real Estate Deal Analysis & Advice Contributor
- Real Estate Consultant
- St. Louis MSA
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#3 Real Estate Deal Analysis & Advice Contributor
- Real Estate Consultant
- St. Louis MSA
Quote from @Sankalp Godugu:
Hi there! I'm looking to purchase my first multi family home in the city of Colombus and am looking for the hard numbers, metrics I should be on the lookout for, and sample properties to get my hands wet as far as what's considered a good deal and area to invest in. Any feedback and suggestions with examples to get started would be much appreciated. I am looking for 6% yield minimum on my cash with 40k-60k down payment. Additionally any pros/cons for using FHA loan would also be much appreciated, thanks!
Hey @Sankalp Godugu, welcome to the BP Forum! With FHA, you have to live in one of the units. For small MF in Columbus, you should look at the triplexes being built by @Robert Ellis.