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All Forum Posts by: Victor Kang

Victor Kang has started 5 posts and replied 11 times.

Starting Out

Post: Experts, please help out a newbie

Victor KangPosted
  • Los Angeles, CA
  • Posts 12
  • Votes 0

I have a few questions. It might be silly and relatively easy to answer. Bare with me as I am super new to this. 

I found a 4plex in Las Vegas for $225,000. Im thinking of paying 50% down which equals $112,500. With a 30 year fix at 6% interest rate equals $830/month = $9,960/year = $298,800/30 years. With my initial $112,500 down payment and the total mortgage at $298,800 = $411,300. This sounds like an awful investment as I am paying almost double. Does this math makes sense or am I off? I know this can be a really dumb question but as I have mentioned, I am really new. Please experts, enlighten me. Any feedback will help tremendously.

Thank you!

0 Votes