New Member from Upstate New York

[Trevor K.]

I am a new BP member from Upstate New York, I work full time in Law Enforcement and I want to acquire small multi family properties to buy and hold. My goal is to create passive income for my growing family and provide the best possible life for them. On Tuesday, 9/20 I will be looking at my first potential investment property. It is a triplex, I ran the numbers through the BP calculator and they appear to work, however asking for additional advice never hurts.  Here are the numbers: Asking Price: $175,000 Taxes: $5617 per year Insurance: $1950 per year Water and Sewer: $1770 per year Tenants pay electric. Unit 1: 3 bed, 2 bath Rent: $1,100 per month.  Unit 2: 2 bed, 1 bath Rent: $700 per month Unit 3: 1 bed, 1 bath Rent: $625 per month Using the 50% expense rule with the calculator it stated that this should cash flow $460 per month.  I plan on getting a conventional mortgage and putting 20 percent down All units are currently occupied. The property is in a good blue collar neighborhood within walking distance to an excellent elementary school.  I will know more on the condition of the units and the building next week, but on the surface this seems like a logical deal. Any and all advice is welcome, thank you for your time.