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Updated over 6 years ago on . Most recent reply

User Stats

14
Posts
0
Votes
Jordan Kenyon
  • Rental Property Investor
  • Mystic, CT
0
Votes |
14
Posts

My first deal Does this look good?

Jordan Kenyon
  • Rental Property Investor
  • Mystic, CT
Posted

So I found my first multi-family deal and want to see if you guys think this is a good investment. 

Purchase price: $197,500

FHA 3.5% down: $7,000

Mortgage, taxes, Insurance: $1,535

2 Bedroom rent: $1,100

1 Bedroom which I'll live in for a year but could rent for $850

Barber shop in building: $650

The only thing I pay for is heating which was $2,000 total for last year the rest of utilities or paid by tenants.

My question here is with me owner occupying I will clear $215 but once I move out I will clear $1,065. Would you guys consider this a good deal?

  • Jordan Kenyon
  • Loading replies...