I got my 401k match from last year. approx $3650.. nice!
I am trying to get my entire 401k in this year by July in case my contract ends (but do not think it will). it also forces me to live on much less which is good and I will continue at once I am complete w the 401k deductions (approx July)
I am looking at a 2 flat, contract sale
occupied , price $72,500, total rent $1750 ($900 and $850)
With all expenses (water bill, tax, maintenance escrow, insurance and mgmt) the cap rate is over 14%. Seller will sell with $25k down and finance the rest over 4 years,. payments $1018
I did an inspection (cost $450) and seller is fixing a big list of items I asked for . I should say this is a seller referred by the property manager and she is wanting to sell all her properties and move to a different area. First floor unit just prepped for new tenant too.
So i will re-inspect property Friday (my list of items) and see if it makes sense then.
Inspections are SO WORTH it. even if listing is 'as is'. I wish I had done then on the '6 homes' but live and learn.
Got my 401k match and possible new 2 flat