After watching last nights webinar I decided multifamily housing would be my niche. Once I finished the webinar I went right to Realtor and found a TriPlex near me with 8 Bedrooms and 3 baths for $160k similar price to the example that was showcased. The monthly cashflow using Biggerpockets tool is $1,831.47 with a 62.79% cash on cash ROI. The house has also been listed for 250+ days meaning I could probably offer a decent amount less.
Since I'm new this really doesn't mean much to me (i dont know what im doing) and I'm not sure if I estimated everything right because this seems like a too good to be true deal, especially since it was the first house I clicked on haha.
How would I be sure to get more accurate numbers and make sure I'm calculating all this correctly? Rent prices, Repairs, etc. Or is this mostly just a rough estimate to see if you should look into it further? I know actually going to the property and looking at it is probably the best choice since the pictures don't really show much of the inside condition, but I wouldn't know what I'm actually looking for.
