Hell Evereyone,

So here is my first possible deal.

It's a newly built 4-plex (2007).

Each unit is 3 bed 2 bath. In excellent condition.

Each is renting for 1020 currently. It is located in a small up and coming suberb of Dallas. Great schools and amenities.

Asking is 375,000. Was on the market for 420 last year but didn't sell.

Here are the numbers I have so far(this would be bought using cash:

0%
Purchase Price: $375,000.00
Down Payment $-
Closing Costs $9,375.00
Loan Costs $-
(-) 2% Seller $7,500.00
Initial Investment $1,875.00

All Figure Are Annual
Rental Income $48,960.00
Less Vacancy $2,448.00
Gross Rental Income $46,512.00

Operating Expenses
Real Estate Taxes $9,972.00
Property Insurance $2,000.00
Property Management $2,558.16
Repairs & Maintenance $1,000.00
HOA $-
Utilities
G&E $300.00
Trash $1,116.00
Water $-
P.I.D. Fee $-
Yard Care $2,700.00
Mortgage Insurance $-
Accounting $100.00
Advertising $60.00

Misc. $350.00
Total Operating Expenses $20,156.16

Net Operating Income $26,355.84
Annual Debt Service

Cash Flow Before Taxes $26,355.84

Please let me know what your thoughts are. If you would like more info please feel free to ask.

Thank you very much!