Buying my first property - think I found a good one - Opinions?!

[Matt Charbonneau]

Hi All,

I found a potential property which I think might be a winner! It's a 4 family in a very blue collar area in southern New Hampshire. One thing I worry about is appreciation in a rougher area but the cash flow seems to work.

Potential Purchase Price - $350,000

Down Payment - 20% or $70,000

Property Taxes - $5,100

Gross Rental Income - $50,000 per year (all four units are TAW currently occupied which originally had leases but owner let them lapse so new owner could do as they wish - all rents are current and in good standing)

After property management fee's, factoring in some maintenance costs, plowing, lawn mowing, and landlord paid utilities it looks like I will net between $15,000 and $18,000 per year positive cash flow. 

Let me know your thoughts!

[Will Stewart]

I'm guessing this might be the one on Ash St in Nashua? The rule of thumb I've always heard is stay away from the tree streets but that may be an old adage that is no longer true. What I do know is that anyone with rentals in Nashua right now says they're in huge demand. Obviously just a few blocks away you have the gentrifying downtown that will only spread.

This ones worth a further look- you'll know right away when you do a showing what kind of shape it's in. I also always drive by at night to make sure. Move fast though!