is this a good deal

[Briley Roe]

I purchased a property that needed a lot more work then intended. Can someone tell me if this is a good deal?

here the numbers

144k, 2556 sq ft, decent area.

put 30,000 into remodel.

Annual cash flow, 1,737

cap rate, 7.82%

coc returns, 2.82%

monthly cash flow, 144

grm, 92.9

total roi, 16.26%

Not sure if I am doing good in real estate or not,  just want to find a way to make it.

[James Carlson]

@Briley Roe

A "good deal" is not a black or white thing. The bigger thing is ... 

You bought a property. Someone else pays your mortgage. You're cash-flowning a little. You're gaining equity. And you're getting tax benefits.

So many of my first-time Colorado investors are afraid of looking stupid because they got a "bad deal." The biggest mistake a first-time investor makes is never buying. 

The first deal's never perfect. You're doing great. Now ... save, save, save and repeat the process with any lessons you learn from this.

Cheers!