My first multifamily deal

[James L.]

Hey everyone, so I have a duplex in round rock. I'm kinda nervous, I ran the numbers it seems ok but some feed back would be appreciated.

So have it under contract for 180k, 20% down finanacing 135k @ 4.3% for 30yrs. It's currently renting for 750 a side they're 3/2 with a one car garage. Market rents are 1050 eq. if I did the math right after dumping an additional 30k in rehab I should be cash flowing about $460 a month. Thanks

[Paul A.]

Take my opinion with a grain of salt but I think the issue some people are having is that you are shelling out a ton of capital to make $300 per month, with this being your first deal and all. What if you only get 870 per door? Now you dropped $70K to make $100 per month. 

Also, since this is your first deal, are you solid on the 30K rehab side of it?? 

But remember what opinions are like, we are all just offering advice... especially myself, I have one property under my belt... you are the ultimate decision maker!