First time investment of multifamily need advice.

[Kenneth Stump]

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. 

[Megan T.]

Make sure you are underwriting taxes correctly. Throughout most of Texas your taxes will be reassessed after the sale up to the purchase price. You can confirm this by checking other sales comps from the last two or so years vs their current assessment. I know Texas is a non-disclosure state, so you might have some difficulty finding the sale prices, but your agent should be able to help you