Updated almost 11 years ago on . Most recent reply
Investment Property
I am fairly new to real estate and I'm looking to purchase my first rental property using a home equity line or down payment of my own money. Below are the details of the potential of this property.
3 Bedroom with 1 bath 1,160 square feet
Located right next to a University with 20,000+ students
Cost 99,900. I could probably offer 90,000.
Mortgage with 5% down with taxes, insurance: ~650
Rental potential 1,250-1,500
Any thoughts? I know this is very vague, but I think I could potentially get 10K per year from this rental.