(2) 4 Unit Buildings - [Calc Review] Help me analyze this deal

[Jeremy Mattson]

There are (2) 4 Unit buildings I am looking at and they seem to be amazing prices (240K each). Even purchasing them at their listed price, they seem to Cash flow very well. I'm meeting today with a lender to see how we can get this done and still need to determine how I will come up with the down payment. My initial thoughts are to find a family/friend to finance the down payment via their HELOC for a short period of time until I can refinance and pull out the equity.

From my research, most 4-Plexes such as this are priced closer to 300K.

My estimated expenses I believe are very conservative. With 5% Maintenance, 5% Cap Ex. In addition, 3 of the 4 units in the buildings have already been renovated and the roofs have been replaced recently.

A couple of items of note areas that all of the leases are currently month to month (Very happy about that). And there is room on the property to add storage or covered parking to increase the NOI.

Let me know your thoughts! And if you have any advise on funding this deal. 

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