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24 July 2020 | 11 replies
I am thinking of purchasing a $25k lot that i can fit for sure a small 4plex on in a city that is surrounded by heavy industrial plantsMy plan is building a 4 plex with 1 room, 1 restroom, small living room, tiny kitchen, and tiny utility room roughly 775 sqft a pieceI know for a fact i can get contractors in here rented out paid water and trash @ 950$ a month (possibly more if weekly and if i do all utilities)Why should i OR should i not pull triggerRoughly 25k for lot + 200-250k to build = a 225-275k loan @ 15 years @ 5.59% 275k loan 25% down1695 note paymentLets say 400 taxes 400 insurance (over estimating)2540 payment - 3800 rent = 1260 cash flow minus water and trash Basiclly 200-250 a door @ 15 years (trying to build equity fast)Im doing 15 years cuz i know i can walk in to my favorite bank and they’ll Loan this out to me fast basicly pre approvedNever done this before but already getting bids on contractors and this is what they told me roughly building cost wise (im more experienced in SFR’s)
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23 November 2018 | 13 replies
I started out with a very small amount of private money($20K) and my own cash.
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20 November 2018 | 34 replies
Sorry about being so vague I plan on purchasing small multi family to hold long term for cash flow.
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20 November 2018 | 5 replies
@Keith B.Welcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.
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26 November 2018 | 8 replies
I am a husband a father of almost 3 and a small business owner.
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20 November 2018 | 10 replies
A small bullet to bite in the long run.
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8 December 2018 | 24 replies
I don't know about Greenwood by the 'Burgh is a small city and everyone in the business here ends up knowing everyone else.
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19 November 2018 | 2 replies
Kept reading about owning a small multifamily.
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23 November 2018 | 3 replies
Has anyone taken advantage of the services offered by the Small Business Association?
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19 November 2018 | 20 replies
Personally I would help them out if they are unable to get it out themselves, it's a pretty small task overall.