Rate this deal

[Bryan Graf]

Hello everybody,

I am a new investor about to make the leap into investing in rental properties. I have been searching the interweb for a forum just like this for a month and I am very glad to have found it.

I have a contract on my very first rental property, and a couple other offers out to sellers. I am looking for an advisor to help me figure out what is the best use of my capital and what are the best deals. There is only so much I can learn from books and websites. I'd like to talk to someone in the business in Florida (Hillsborough county preferably), but really I'd take help from anyone interested in looking at numbers and telling me whether i'm crazy or not. If someone offers professional advisory services send me a message.

Info about my current offer:

location: St. Petersburg

offer: 60k (seller pays 6% closing costs) 20% down

three unit MFR full occupancy
Rents 795 595, and 625

No major repairs needed. Property is in decent condition and in a good blue collar neighborhood. The price is better than similar MFRs in the area. This deal seems too good to be true, which has me in agony thinking I'm missing something, otherwise why is this property still available?

If anyone has any input it would be greatly appreciated.

Thanks,
Grizzly