All Forum Posts by: Hoseah Njuguna

Thanks Jason and Max...I definitely feel like its a good deal. I reside in the area and have done research on the rental rates...and that upstairs unit can fetch $900.

As for living in the unit in order to qualify for FHA...that's off the table

Hi, This is my first post...and am thankful for this website and all the members and their contributions.

I have the chance to acquire a triplex (mixed use)

Its a 2 story building on a small lot.

Two units in the ground floor.  Main tenant on the ground floor is a post office---and they just signed a 10yr lease, paying $ $883.50 monthly rent until May of 2021; rates go up to $945.33 from June 2021 to end of lease May 2026.

There is a small residential unit on the ground floor with a stable tenant (4yrs). He pays $450 a month.

Upstairs unit is a 2bd, 1 bth that is fully renovated and vacant. Owner says that it will fetch $900 a month.

Asking price is $120,000

The owner bought the property for $6,000 in 2001 and he has done significant work on it, but am sure the asking price is negotiable.

This will be my first investment property if I decide to go ahead with it.

Since this is my first deal, I am out here seeking your input and advise....

Is this a good deal?  Any suggestions on creative financing (I asked him if he is willing to do seller finance and he said -no)