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Updated almost 4 years ago,

User Stats

19
Posts
7
Votes
Chad Rakestraw
Pro Member
  • Investor
  • Highland Village, TX
7
Votes |
19
Posts

Beginner getting into a 10 unit out of state.

Chad Rakestraw
Pro Member
  • Investor
  • Highland Village, TX
Posted

I am a brand new investor looking to buy my first property and came across a 10 unit out of state that has a really good looking P&L. There are minimal repairs needed and the property seems to be in really good shape in a not so good area. The upside is the rent costs per unit are below average for the area and the property itself seems cleaner than most options. I know the risk given the current rental moratorium. It costs 450k and is showing a 40k a year net. I would obviously use a property management company to manage the property. 


My questions are..

1. Is this is a smart idea to utilize the majority of my investment capital to go straight into a 10 unit out of state? 

2. Wheres the best place to try and get a loan for a 10 unit like this? I knot it needs to either be a commercial loan or a private capital partner. 

Thanks ahead of time for any wisdom you can provide. 

  • Chad Rakestraw
  • Loading replies...