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Updated over 4 years ago,

User Stats

13
Posts
1
Votes
John Poling
  • Rental Property Investor
  • Punxsutawney, PA
1
Votes |
13
Posts

Good real estate investment deal?

John Poling
  • Rental Property Investor
  • Punxsutawney, PA
Posted

New to investing. Been looking for awhile. Found an off market deal on 5 houses all duplexes/triplexes/fourplexes. Total of 15 units. All the properties are decent shape. One house will need a partial roof(other half already done) and one will need a boiler before winter. Everything else looks fine. All units are occupied except 1. The vacant unit osnt terrible. A good cleaning and its able to rent. Asking $450,000 for all. Bank will lend 75% at 4.65% arm 10/15/20 year depending. I currently have my house paid off and can do a heloc for the other 25% down payment @ 3.25% for up to 30 years. Total expenses for the property is $2489.08/month which includes taxes and utilities. But doesnt include insurance which is around $1,200/year. Total revenue from a fully rented portfolio is $8,250/month. Is this a good deal or option. Any help or guidance appreciated. It is going in an llc with me as a personal guarantor.

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