4 plex Multifamily analyzing deal

[Shlomi Mor]

Hi guys I am looking to purchase my first Multifamily this would be a first deal in real estate I found with my broker a property I am thinking maybe a good deal but I would like your thoughts on it . 4 unit Multifamily centrally located in west Chester NY Income 3720$ Expenses Mortgage insurance and taxes is 1276$ a month Vacancy 186$ Repairs 186$ Cap ex 186$ Management 372$ As of now the landlord pays electricity and gas 600$ a month Water and sewer 50$ a month I was thinking if I take the property and put separate meters for water and electric I can have the tenants pay their own utilities Please share your thoughts on the deal

[Ceasar Rosas]

@Shlomi Mor

Where in the world are you finding a 4 unit in Westchester, NY for 210k? Mount Vernon area maybe? Although it seems like taxes are to low for it to be Mount Vernon. Almost anywhere in Westchester this would sound like a great deal. If you want to PM me the deal feel free to do so, I'll take a look at it. While the broker is quoting that the insurance is only 1k, do your own quote. For investors in Westchester it'll be more expensive. I invest in Pa and here, $1500-$3000 will be your avearage here depending on size and units. In Pa i pay half that. You can separate the utilities or submeter, but be careful that this isn't a single or 2 family being used as a 4 unit. Has happened before. Check property records, title search, and make sure your contract gives you a due diligence period.