3-Plex [ Deal Or No-Deal ]

[Rod Joseph]

I am looking at a deal in Gwinnett County, I am having difficulty finding comps to access the ARV. So I dont know if if have a good deal or not.

Its a Triplex with an unfinished bonus room with possibility of making a studio rental.

Current Income: $2755
Mortgage Expense: $2600

Current mortgages total $349K  (1st+2nd)

Owner is open to creative financing.  Is there a deal here?

I am waiting on ARV from friendly realtor.

[Allen Fletcher]

@Rod Joseph

Your post states "Mortgage Expense" is that supposed to mean that monthly debt service is $2,600 or is that Mortgage + Insurance + Cap ex + Management + Repairs? If the debt service alone is $2,600 without taking into account the rest of the expenses I listed above, this property is going to be negative cash flow for you.

Hope this helps,

Allen Fletcher