General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 9 years ago,
Any Multi Family Pro's willing to help a Newbie Out?
I don't want to make this very long, so I will try to bullet this to keep it short.
-Newbie in Washington D.C. inspired by the idea of using an FHA loan to purchase multi-family while living in a unit.
-Found a 4 unit (each 1bed 1 bath) close to a metro stop in a pretty decent neighborhood
-3 units rented at market rate = $4,825
-units renovated in 2008
-Asking Price $999,999
-Taxes $4,184 a year
-FHA limit for fourplex in DC is $1.2 million
-Been on MLS for 90 days (according to zillow)
Question: Tried using the analysis tool but there are definetely numbers I have no idea. Any advice on how to do due diligence to ensure I am doing all I can to see if it's a deal?
I appreciate any and all feed back and thanks in advance!!