What do you all think about this Multi Family Quadraplex deal?
Im looking at getting a quadraplex under contract and wanted some feedback on my analysis. Do you think its a good deal? They countered my first offer with $292,000 with no closing cost. I am gong to counter with $280,000 with $5000 closing cost. Its been on the market for a while also. Their asking price is way too high. Check out my analysis and the numbers here ------> https://www.biggerpockets.com/calculators/shared/537807/13662d27-5d2e-4fe8-918a-033ef4340017
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Based on what you posted rents are ~$2,400 and mortgage is ~$1,700 that leaves $700 for expenses to break even. I doubt that is enough room for taxes insurance property management (would likely be $240 on its own) vacancy, etc. I think the realistic analysis is the one on the second page showing monthly negative cash flow of a few hundred dollars a month which I’d say is a bad deal.