2x 4 plex deal. Numbers look good but...

[Jeremy Freeman]

Hi everyone, I am around the Tulsa nw Arkansas area. I work full-time. I have one in the rental property that used to be my primary residence

. That property is in the process of being sold, The cash flow is under $100 a month on the single-family which isn't worth it for me.

I am looking at 4 Plexes for sale eight units in total.

The price is $200,000 each so a total of $400,000 for the acquisition. At 20% down plus closing I would be into the property is roughly $100,000

The properties were built in 2006. and each unit rents for $600 a month. Property taxes are $1100 a year flood insurance is $900 a year.

Downfall is it is not a metro Plex it is more of a rural community. I am not looking to sell the property I am looking to build a new portfolio of multi family that can take over my job someday.

does the deal seem to be a solid starting point for a portfolio?

What do you see in the numbers?

Anyway I could creatively finance to be lower then 20% down, I'd like to buy more properties fast as possible