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Updated about 4 years ago on . Most recent reply

User Stats

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

Amazing Cash Flow 4plex!!!

Howard Montaque
  • Investor
  • Rockledge, FL.
Posted

I hope all is well and success is your friend. I am buying a 5000 square foot 4plex with a partner. I needed a partner because I found this property while in the middle of a flip and my cash is tied up. This property is $565k and grossing $10,400 a month as a shared residence renting by the room. Its fully occupied with 16 tenants. I have been using hard money at 15% down and 80% of the sale price for my flips. With this property costing more than usual and having to put down $113k plus closing I am really concerned about what loan to use. Conventional, Delayed, FHA, Ect... We want to maximise keeping our money for the next properties. My wife and I are USAF veterans and flipped 3 properties this year.
Thanks for your time,
Howard & Tamay Montaque

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