All Forum Posts by: Cheyenne Hanes

@Courtney Trahan Lexington, NC tenants are already in place.

Do you think now is a good time to buy a small 8 unit apartment complex for around $300,000 with everything that’s going on right now(Covid and the no evictions ) 

I came across an eight separate unit condo(as in they are not all connected, they are spread out between 2/3 buildings) sale. he’s asking 48,900 for each one - all of them 2 bedrooms 2.5 baths. We’re thinking about asking to combine all of them for hopefully around $300k. We don’t have a $60 down payment so we would use an equity loan on our house for that amount and then have a mortgage for hopefully 300,000 when all expenses are paid each month excluding the equity payment because we don’t know how much that monthly payment will be yet, we have a cash flow of $750 a month .

My question is do you think this is a good deal?

This will be our first time ever buying Real estate!