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Updated almost 8 years ago on . Most recent reply

User Stats

161
Posts
130
Votes
Ron Fletcher
  • Leclaire, IA
130
Votes |
161
Posts

First 4 plex rate deal please

Ron Fletcher
  • Leclaire, IA
Posted
I am fairly new to buying rentals. Just bought a four plex in a c plus working town. Building is 7 year old 4 plex. 1,000 sq ft each. I paid $215k for building. (Seller was very motivated. He is 79 and wife has major health issues). Rents are $675. All long term tenets. Building is very low maintenance. My bank is conservative so requiring 30% down which isn't a problem. My payment will be @$1600. Including property taxes. Owner pays water/sewer @$100/month. Trash $65/month. Lawn/snow $100/ month. How does this deal rate in your opinion? Bad, Ok, excellent???

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