4 unit investment property
 

hi, curious what your thoughts are on the following property. 4 unit building. I will live in one unit and rent the other 3. Total cost is 1.3 mio. rental income - 5,800 and I would cover the balance of mortgage and costs.
Thanks.

Re: 4 unit investment property
 

With the inadequate info you provided, it sounds awfully expensive to me. Income property mortgages have higher rates, your insurance is often higher, and in some places, taxes are doubled. The property is valued as a function of rent. If the rent doesn't go up, neither will the value of the property, unlike a detached house.

Re: 4 unit investment property
 

How can you not even say where this is

Re: 4 unit investment property
 

Without knowing more information, it sounds like this property is way overpriced unless you are planning to rip this building down and build a bigger complex or something like that.

Re: 4 unit investment property
 

This also can't be answered without a rental estimate on the unit you will live in. I'm assuming the 5,800 a month is for the 3 units only, almost 2k a month, but its a big difference if the owners unit is a comparable 2k unit, or a bigger and more expensive unit.

SteveOMS

Re: 4 unit investment property
 

Can't answer on wether it's worth it or not...I can answer the question about living where you rent.

Being a landlord, and living within "walking distance" of your properties SUCKS! (I will never again let my renters know where I live) They'll complain constantly, bug you, talk your ear off, and it's a hugely bad experience. Every landlord I've ever talked with that lived in the same place that they rented hated it (around 7 buddies I know have done it, so not a huge sample size, but not a tiny one either)