Deal analysis needed - 4 units in Elkhart

[Thomas Bernard]

Hello,

I can buy a 4 units building in Elkhart (Indiana) built in 1900.
There are 3 1beb/1bath and 1 2bed/1bath.
If all units are with tenants, I can hope a cashflow of 1400$/month.
The price is 5.5k$. I can invest 3-4k for rehab.

I want to have your mind, as a real investor.

This will be my first investment, so please give me full explainations/details

Regards

[Adam Gerig]

While his figures may be off some it's not impossible to get an extremely high CAP. I bought a property on contract in Fort Wayne for $1k down and put $9k in rehab into the property. I am renting it for $550/month and it's beautiful. My cap on this property is over 40%. I buy just outside of war zones and have had pretty good success with it.