$1,000,000+ First Property

[Jayden Melo]

Looking to buy a four-plex in the Seattle area as my first rental property. However they all seem to be selling for $1,000,000+. Is that amount too ambitious for a first time investor? I would be living in one of the units and would use 3.5% with an FHA loan for the down payment. Let me know what y'all think, thanks. :)

[Sherief Elbassuoni]

@Jayden Melo, Median sale price is $885K for one unit. A fourplex can easily go more than $1M in Seattle. You will just need to run the numbers. As long as you have cash flow, you are good. That said, with very little money down like 3.5% FHA loan, getting +ve cash flow may not be an easy task