We identified 2 properties and one of them was already sold to someone else so we are left with this one but want to make sure that the numbers make sense and we are not missing anything.

I feel like the market here is very tight, and most of the properties I analyze are tight or don't make sense.

How is general property appreciation there?

My name is Cam, and I discovered BiggerPockets on Spotify.I'm 25 and bought my first multi-family property about a year ago.

Let me know if you want to see some properties in Worcester.

When I did underwriting, since a portion of the insurance costs and property taxes are collected at closing, I reduced those from the first year of expenses.

Anytime I owe $1 million on a property and sell the property I am going to offer the lender $50 per month in lieu of $1 million immediate.  

If the property doesn't meet the DSCR or the value basedon the market cap rate, your down payment will increase to bring up the DSCR orclose the gap to cap-rate value.Challenges/Lessons Learned: Just becauseyou can buy a property with a CMHC insured loan doesn't mean it is a good deal.We've seen a lot of investors agree to pay too much for the properties, and getshocked with a big down payment and low cashflow due to the low DSCRrequirements.

It was a self-storage property in a small town in Central Illinois with a recently underway residential development adjacent to the property, so lot's of upside.

My husband and I are now in a position to start acquiring some rental properties.