All Forum Posts by: Gaurav K.

Thanks Karen! 

Thanks John, but the deal fell through!

Thanks Ben!

@Michael Dang Hello Michael, What other information do you need to analyze the deal and mortgage?

@John Warren Thanks John. What do you think about the deal? Is it worth buying the property. It is in a C+ neighborhood.

I am buying a 10 unit apartment building for $550k. Each unit rents for $650/month and taxes are $15k/year. I am getting a Mortgage Rate of 4.25% and it’s 5 year fixed, 10 year balloon, 25 year amortization - 30% cash down.

Based on your experience, do you think it is a good deal and good mortgage rate? Are balloon payments normal in these transactions? Are there better mortgage options for buying apartment buildings? If yes, can suggest some better alternatives. My credit score is 790+.

Any advise will be appreciated.

Thanks!

@Marlen Weber Thanks Marlen!

@Alan Blitz Taxes are low and you will have a positive cash flow. Best of Luck!

@Alan Blitz Hello, just curious to know the ARV of the property and how much are the taxes.

@Neil Henning I do this as a part-time hobby and didn’t have a chance to explore other places. There are a lot of investors who are investing in Norristown and therefore, the prices have gone up. Let me know if I could be of any help!

@Percy N. Thanks for the advice. 

@Alan Blitz Congrats Alan, let me know if I could be of any help!