All Forum Posts by: NA NA

@Bill B. Thanks a lot for the tips Bill! I truly appreciate it. I was actually considering doing a shorter mortgage term to gain equity on the property faster. I hope life is great for you man. 

@Scott Mac The cash reserves is not an issue. I have a good sized nest egg set aside for these things. 

@Account Closed  Thanks brother! Hoping to read of your successes in the near future! 

Considering buying a 4 plex for $595,000 at 6.5%. And 0 down. (VA lender) Total collected rent would be at about $67200. What is killing me is after factoring in property taxes of about $9000 for the year and 10% of the rents $6.720 for property management as well as insurance factored at another $2400. It puts me in a position of barely being able to cover expenses. Maybe $1800 in the positive over the year. (Not factoring any issues)

Is this a bad deal? Or is it one of those things that would potentially pay off in 5-10 years? The location is in a booming area of McAllen, Tx with almost nowhere else to build and rents have blown up the last few years. 

New to the game so really trying to find a deal that will put me in a position I don’t regret. Thank you in advance. Feel free to be honest with me you won’t hurt my feelings lol.