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Updated over 5 years ago,

User Stats

38
Posts
11
Votes
Kenneth Stump
  • Rental Property Investor
  • Mechanicsville, VA
11
Votes |
38
Posts

First time investment of multifamily need advice.

Kenneth Stump
  • Rental Property Investor
  • Mechanicsville, VA
Posted

I am looking at some 4-plex properties in central texas and wanted to ask if any of the Pros could tell me if this would be a good deal? I think the price is to high. 

Asking price is $245,000. Taxes are $5256 a year. Currently all 4 units are rented at $580, 600x2 and 650. Tenants pay all electric, water, garbage, etc... 

I have run the numbers and think it would be a bad investment unless the price was dropped to around $200,000 or less. I am new to multifamily so any help is greatly appreciated. 

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