All Forum Posts by: Lisa Vu

I found a 8 unit in a desired area for 495,000. It would be amazing if I could convince the seller to give it to me for 400,000 if I just wait it out and let it stay on the market for a few more months. Many of the single homes in this area alone are worth 500,000. The school district is amazing as well. I was thinking on the low end on rent: 775 for the one bedrooms [there are six of these] and 675 for the studio. [there are two of these] I haven't crunched any other numbers but the plan would be to buy a multi-unit, refinance, cash out and buy another one. 

Hello,

I wanted advice on investing in a multi-unit apartment complex. I thought about the other options but they seem more considerably risky. (Example, if I only invested in 2-3 single homes and 2 out of 3 stopped paying rent, I would be in trouble!) I currently have 20k-30k in the bank and the home I live in is fully paid off. It appraises for around 160k. I thought about refinancing, heloc, FHA loans since my first home was paid in full cash. Any advice or better ways to leverage my equity? My credit scores are decent. I want the ball to start rolling so once I buy the complex, maybe I can invest in a duplex or a triplex, etc. Could I potentially refinance the multi-unit apartment complex to purchase more? Thanks for the help! I'm still relatively new to all of this.

This duplex is on the market for $75,400 and one side is already occupied. It is rented for $650. I'm putting a down payment of 3% by using the FHA loan. Property taxed are about 1500 and so is the home owner insurance. I will be living on the other side. Utilities are seperate so I will have my own expense. Both sides are 2 bedroom and 1 bathroom. I'm hoping to purchase it for 60,000-65,000. The return rate is awful at about 1 percent and it's habitable and renovated. What do you think?

I found this incredible duplex that's close Universities, Downtown and it's about a mile to a very highly desired area. It's priced at 75,400 but I'm hoping to get it for 65,000. It's a 2 bd. 1 bathroom on each side and I will be living on one side. I'm going to use the HUD program to make use of the 3% down payment I'm hoping to receive 875-1000 a month for the place because of its great condition and a wonderful FLAT yard which is hard to find in the area. I'm a college student and I'm trying to find a way to live almost to completely rent free. I know there will be lots of extra cost that comes with a duplex such as property insurance, utilities, maintenence, repair, etc. Is this a good deal ?