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Updated over 14 years ago,
Need some help buying 4 plex please, thank you!
Hello, I'd first like to thank everyone for their support again, thank you! I'm looking for a little more guidance in my purchase just to make sure I'm on the right track. I have a 4 plex under contract for $140k right now in Las Vegas ...
Yr: 1983
GOI: 2848/mo
NOI: 1424/mo (50%)
-400 (my profit)
1024/mo left for P&I
I plan on using a private lender to buy and then refinance for long term. My private lender is willing to finance 90% of appraised price which 100% of the purchase price.
I'm in a 7 day due diligence phase and want to know what I should be asking for about the property again. I believe each unit has separate utility meters, I'll verify that later today. Any Thoughts, Ideas, Quandaries, and/or Advice is greatly appreciated, thanks!