Updated over 9 years ago on . Most recent reply
Yes or No?
I'm looking to get my feet wet in real estate investing. I ran the estimated numbers based on averages and came up with this. The asking price for the property is $71k. The property in question currently has tenants and rents for $1,230/m. Based on the 2% rule I was going to try to get the property as close to $61.5k as possible, including down payment without discouraging the sellers. But my numbers are based on the all in (down payment /finance) price of $67,228. I also used a 7% for my monthly expenses across the board. According to the books I have read these numbers look better than average. What does everyone think?
Most Popular Reply
@James Wise, I appreciate your input, Thank you. Hopefully I can get this moving and start my journey in REI.