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Updated over 12 years ago,
First Timer -- 500,000 fourplex?
I have absolutely no background in this. I'm looking for a place -- im now renting and want to live in SoCal in a not-so-bad neighborhood that is the best investment possible.
I found a 500,000 short sale in SoCal which is getting 1500 per unit. I could live in one and the others could give me 4500 bucks a month. Minus 2000 for mortage and 500 for taxes plus 50% rule -- that is about 4750 a month. That's about 1250 a month i clear -- is that right? (if i live in the place, i pay 250 a month)
Good, bad?
Starting with a fourplex -- good, bad?