All Forum Posts by: Jim Wilder

Well, number crunching shows the following:

Maybe its not such a good deal after all, depending on my down payment.

Thanks for all the help, luckily I have a contingency to get out if I can't find suitable financing. It's a great property with $7050 income and ~$1700 monthly costs + P&I.  I found the property on Realtor.com

 Thanks for the quick response and contacts!

I'm a true newbie and just had my first offer accepted on a 16 unit apartment complex. It was listed for $723K and offer was accepted for $675K. So... how does the financing work? Is it based on projected income of property? I'm looking to let the property pay for itself and want to use a minimum down payment. All the units are full and it has a property manager with a waiting list for more wanting to rent. Property is located in Waynesboro, VA.