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Updated almost 4 years ago,

User Stats

62
Posts
21
Votes
Howard Montaque
  • Investor
  • Rockledge, FL.
21
Votes |
62
Posts

Losing Liquidity on Multiplex Purchase

Howard Montaque
  • Investor
  • Rockledge, FL.
Posted

We flipped 3 houses last year. It was a long hard battle and we did well. Now I have money in the bank and flips have become harder to find in this market. I found a new construction triplex for $670k where there are older properties that need work at this price point. I put in an offer and started looking for a lender. Then I found out that multiplex properties are now 25% down. Thats $167500 not counting the closing costs ect... WOW! Thats going to be all my cash money. The property should net me about $4k a month but that will take a long time to recuperate. How are you dealing with it?

My goal is $8k to $10k per month

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