All Forum Posts by: Preston Moore

@David Avetisyan 

So... The deal ended up having a single PGE meter and the owner was paying for it which explained why half the gross income was eaten up in expenses. The 4-plex initially was a single house and the owner never paid to split up the PGE which if I were to do would cost thousands per unit. That said, I backed out the deal. I'm now in ESCROW with a different 4-plex. A much better deal :  )

Hi Peeps

So, I’m a noob real estate investor looking for some advice on a deal I currently have in escrow. I know I can cancel but I’d prefer to seal the deal. Here is the link to the local property -> https://www.redfin.com/CA/Fresno/332-N-Roosevelt-Ave-93701/home/96061157

As you can see the property brings in over 2600 per month, all units on month to month at the moment. Older property in a part of town that is less desirable. Schools are not great but its not a particularly high area for crime. Just low income. The plus side is the rent is low for the area and it draws ton’s of migrants who rent for ever and ever.

Based on the cash flow, I see this as a good investment for my local area and it fits my investment goals and budget. My question to you the more experienced investor is, is this a deal you see as good for an entry level multi-family investor?

My primary goal is to replace my income with the cash flow from multiple multifamily units, this being the first.

I appreciate any and all feedback!

P.S. I SEE the expense too… Getting clarification on that from my agent as I type this…