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Updated almost 9 years ago,
Need help with major building decision
Hi there Bigger pockets users, Its been a while since Iv posted on here but I seem to be in a battle with myself over what to do in my current situation.
I have a Triplex that is in the processes of getting all the windows replaced ($8,500) The payment is roughly $200 a month for five years. The building currently cash flows at $400 a month ( was $600 before windows) The windows needed to be done and now look great. Now that summer is approaching it is time to get the roof done, I've been quoted on the roof at $9000 which I would have to get another loan for and would then again eat into my cash flow. My question is.. does It make sense to go out and get another loan to replace the roof and then bring my cash flow down to $200 or even less depending on the payment. This is a buy and hold type of situation with promising out look for the rental market.
I am a brand new real estate investor and already have learned multiple things not to do on my next deal.
Thank you for your time
- Chantz