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Updated almost 4 years ago,
Losing Liquidity on Multiplex Purchase
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