- Joined
- Mar 17, 2011
- Messages
- 133
I'm currently finalizing my divorce and looking at getting back into real estate in the next few months.
I came across what I think is a pretty good deal, just wondering if multi-family experts can weigh in their opinion. I will share as much info as I have, I realize it might not be enough.
4-plex
built in 1978
all units could use some minor updating, but overall pretty good shape.
each unit has laundry hook up but no washer and dryer included (I find this dumb but would like input on this)
Price: $400,000
Current rents: $1000/unit
1 unit empty.
I don't see any reason why a person couldn't do a quick "lipstick and rouge" on the empty unit, add laundry facilities and get $1200.
Would really like to hear people's opinion on this deal.
Each unit only has a month to month lease in place. Will this effect my ability to finance it?
Thanks very much!
I came across what I think is a pretty good deal, just wondering if multi-family experts can weigh in their opinion. I will share as much info as I have, I realize it might not be enough.
4-plex
built in 1978
all units could use some minor updating, but overall pretty good shape.
each unit has laundry hook up but no washer and dryer included (I find this dumb but would like input on this)
Price: $400,000
Current rents: $1000/unit
1 unit empty.
I don't see any reason why a person couldn't do a quick "lipstick and rouge" on the empty unit, add laundry facilities and get $1200.
Would really like to hear people's opinion on this deal.
Each unit only has a month to month lease in place. Will this effect my ability to finance it?
Thanks very much!