[Calc Review] First Investment Property! Feedback Needed!

[Eric Fitzgerald]

Hello All,

I am in talks to purchase my first property and would like to hear your opinion on this deal! Here are some details, and the report is attached below:

This is a multi-family student housing property. 2 houses on one plot of land, in an ideal location a half block from campus. 

House 1: 3 separate units, 2 of which are fully rented for next year, and one unit that is not zoned for student housing that the investors kids are living in *This is a 2 bedroom unit, so I plan to househack and live in part of it and rent to one of my friends for around $600/month, so I have included $600/month of income in the report for this unit once the investors kids move out. 

House 2: 2 separate units, both of which are fully rented for next year

The seller is an investor who I have worked under for a little over a year and have a great existing relationship with.

Please let me know what you think! This is a huge decision for me and any feedback or advice is appreciated.

I have about half of the down payment secured, so I may have to get a hard money loan, ask family members, or the investor for some help.

View report

*This link comes directly from our calculators, based on information input by the member who posted.