First Deal, Good or Bad?

[Giovanni Garcia]

Hey Biggerpockets!

I am looking to buy my first investment property; it’s a 3 unit building. I’ve made some steps as to show what my cash flow and other aspects of the property entails using my Cash Flow Analyzer.

Here is the listing from the MLS

http://www.realtor.com/realestateandhomes-detail/3144-W-Jackson-Blvd_Chicago_IL_60612_M83228-42313?source=web

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file:///Users/giovannigarcia2013/Desktop/sheet%201.htm

After I did some running of the numbers, I believe this property as great potential to be a good investment. This property is an a C neighborhood and being rented already cash flowing at about $1900 a month. The cash on cash return is at a 60% which what really grab my attention. Also, the building as some upsides because the first floor unit can become a duplex of course with some repairs and the laundry is coin operator. On the outside of the building it as billboards for advertisement and the option to buy the empty lot next door anywhere from $1,000 up to $5,000. I believe this is a good buy but this is why I am here on biggerpockets to see the inputs of others.

Thanks for you time!

Giovanni Garcia