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Updated almost 3 years ago on . Most recent reply

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Dallas G.
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First potential purchase

Dallas G.
Posted

Hey everyone new to real estate and also this page, came across an individual that is wanting to sell out of their 4 rental properties. Information I have is: 4 SFH wanting to sell as a package of $200,000 turnkey… Currently houses rent for a combined $1950/mo which is slightly under the current market rent.

I have gotten pre approved for a loan with 20% down so the loan would be 160k for 240 months= $1,052/ mo

taxes on all properties: $2,362/yr

Insurance quote: $2,802/ yr

So my monthly cost would be $1,483/mo giving me a net of $467/mo. All units are currently occupied and in good condition, 2 tenants have been there 3+years, one is just renewing there annual lease for year 2 and the last house just had tenants move in this month. What all other questions should I be asking about this deal and what should I consider moving forward? Like I said before I’m still new to all of this, and this would be my first purchase so any input is greatly appreciated!

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