First Deal

[Robert Hutsell]

I am considering pulling the trigger on my first deal this weekend. The deal is on a 4-plex for roughly $175,000. I have already worked out the loan details, got a %4.5 interest rate putting 25% down. The 4plex has renters already so it would be pretty much a turn key property and right now the rent is pulling about $1950. My mortgage is estimated around $1000, so that would be $950 cash flow....no considering maintenance and repairs. I am planning on managing it myself. Anybody have any advice or think this is just not a good deal? I know it's hard to give opinions without knowing more details, just looking for off the cuff ideas/comments. Thanks, Rob