Brand New Construction 4plex w/ 5% interest rate

[Jim Moore]

My team closed on a brand new construction 4plex this week in a master-planned community near Lackland and Medina Airbase. We have access to a few more!! 

Price - $960,000

Preferred Lender rate - 5%

Rent per unit - $1,700-$1,800 (3 of the 4 units we had leased at close)

Unit size - 3bed | 2.5 bath + garage

Financials - 25% down, 5% rate, monthly cash flow roughly $900 

[Albert A.]

Congrats @Jim Moore. Beautiful property and the lender rate is great in this market. New construction at that is a plus.

I've been digging for a similar deal myself for the past year in California, but it seems that there's nothing out there that will lead me to break even on a monthly basis unless I do at least 15% down. I'm trying to owner occupy with FHA/Fannie Mae using minimum DPs.

[Andrew Syrios]

Congrats Jim!

[Seth Hamilton]

Quote from @Jim Moore:

My team closed on a brand new construction 4plex this week in a master-planned community near Lackland and Medina Airbase. We have access to a few more!! 

Price - $960,000

Preferred Lender rate - 5%

Rent per unit - $1,700-$1,800 (3 of the 4 units we had leased at close)

Unit size - 3bed | 2.5 bath + garage

Financials - 25% down, 5% rate, monthly cash flow roughly $900 

 Where can I find more info on another deal from the seller / developer? 

Thanks,

Seth

[Alacia Mahnken]

@Jim Moore what is the duration of your loan?