Posted by gmanMD on March 04, 2002 at 16:35:40:
hello abbey would you happen to be in the d.c. metro area if so i think i looked at that property today
new to real estate investing - Posted by abbey c
Posted by abbey c on March 04, 2002 at 14:52:27:
I found my first property a few weeks ago and the seller is willing to hold financing at 8% with ballon in 5 years. Since the property is listed with an anget i have to come up with a 10% down payment which is about $18000. Accocrding to my cal. the propery will generate about $600 in positive cash flow every month, it’s a six unit builiding with 5 one bedroom units and 1 two bedroom units. According to my real estate agent this is not too good, also the building is 100% occupied now eventhough the lease is on a month to month basis on all the units. I would greatly appereciate a candid opinion on this deal. Also how do you suggest i go about getting the down payment.