All Forum Posts by: Brad Arts

Hi Wary,

I'd suggest considering what it is you are wanting to get out of the deal.  That will help you determine if it's a good deal or not.  Are you looking for cash flow, or is there an opportunity to improve the property and the cashflow once you own it. Or are you wanting to offset your mortgage payment?  Are there certain metrics you are trying to achieve (cap rate, coc, etc) and what are those numbers?  Do you have expense information on the property to help you determine how much cash you can expect to have left over at the end of each month or how much you can offset your mortgage?  

I went the fourplex route and bought a SFR after we had lived in the four for a bit. Which was tough since we moved our family into the four which had less room. Its was well worth the sacrifice of comfort for a short period of time. I agree with Jeremy's insight about owning a tri or four. And in regards to mitigating risk, you have four units working for you instead of 2. That helps mitigate any vacancies. I'd also suggest looking at some broad metrics regarding profitability (cap rate and cash on cash return) which will help you compare individual properties relative to other options.

http://www.reliableapplianceak.com/

Might have some decent used appliances. 

Also Seems like there is a fair bit of scratch and dent ss appliances at Lowe’s and hd lately. 

I say get rid of the bidet. One more thing to break or leak and if removed it will help the space feel more open. 

Put the $ into kitchens and baths if the floors are in decent shape? 

 I like the idea of white washing the wood paneling. 

They look like nice units. Congrats. 

203k is an fha program that lets u rehab a house.  

I believe there are conventional loans that offer this as well.  I spoke with Wells Fargo about something that was comparable to the 203k/fha.

You could also sell your current place and rent for a couple months. 

Honestly might be your best bet to talk to a mortgage broker and see what they can do for u. Adam Heafner at first rate financial is excellent. 

is your fha option tied up?