All Forum Posts by: Ivana Racic

Thank you all for your helpful answers.

I found 3 unit multifamily property, good area, price is $580,000 ( 2 units are 2bed/1 bath and 1 unit 1 bed//1bath) They can rent for $1700 (2 bed) and $1100 (1 bed). Total: $4500/month

I can come up with 25-30 % for downpayment, but still rates seems high.

Expenses that I'm aware of property tax: 8K/yr

Property insurance: estimate $1200/yr

To add the cost of vacancy and maintenance (10% total of the annual rent)

Any other expense that I'm missing?

Hello, looking to buy my first multifamily property ( 3 flats) in Chicago

What is considered as a good cap rate in the area?

Also, is there any recommendations for the multifamily lenders?

Any tips for beginners ?

Thank you