condo deal

[Ciro LoCascio]

I am pretty exciting and looking onto my next investment. I wanted to ask everyone's opinion on this. There's 5 condos for sale for approx. $225k total the condos bring in $3650 in rent roll. There's a monthly fee of $147 per unit which includes water, sewer, insurance, trash and maintenance. Tenant pays electric. Taxes yearly on each condo is $700. I would put be investing with my two other brothers and they would put down $25k each and I would pay the mortgage till I have reached $25k. We can get a private mortgage for $175k at 2.5-3% Do you think this would be a smart move for me? I would not be making anything for the first two years cause I would be putting nothing down. Mortgage would be about $950 monthly. Would appreciate everyones input. thanks