03/08/2024
Investor Alert !!
Is it just me or is everyone thinking the same thing? They want to make money, invest in real estate, and create cashflow to get out of the 9-5 system.
Sound like you or someone you know? Forward this email to them and keep reading.
Multifamily is the way to go. More Units in a single property reduces risk and enhances cashflow.
Lets break it down.
The same residential loan you can get to purchase a single family home, you can use to purchase a 2 unit, 3 unit, or 4 unit property. Now why is this important?
With Multifamily you create income from up to 4 units that pay you monthly and cover a single mortgage.
This is key because if you work with me to establish the numbers correctly, you will be able to add value to the property, increase the rents, and earn more income per month beyond the mortgage and expenses for the property.
My goal with every client looking to purchase multifamily is to have at least one unit cash flowing beyond the expenses. For an example, the above pictured triplex is a prime example of a property that can use some value additions. Think paint, window, AC units, laundry in unit, and the list goes on. The point is, there are a lot of opportunities to add value to this property which would attract higher paying tenants.
This property is currently priced at $525,000.
20% downpayment is $105k OR 3.5% FHA Down = $18,375
Mortgage depending on downpayment & credit score can range between
$3,800 - $5,000 per month
Income is currently $1,750 per unit
$1,750 x 3 = $5,250
Immediately you are cash flowing and the rents are below market value.
Rents after slight upgrades can range between $1,900 - $2,100 per unit.
Future Revenue
$5,700 to $6,300 per month
After Expenses (NOI) / Cash flow
Conservatively, between $1,000 - $1,500 / month
Curious to learn more about this property or others in the area?
Reach out to me in my DMs or text me 👌🏻
