Investment Deals, and Monthly Profits

[Jerry Thompson]

Hello Bigger Pockets,

I am a new investor looking start a new career in the real estate investment industry. I have a property (3br and 1 bath) in mind located in the Southeast Texas region.I am new to this so I want to make sure that this purchase is a profitable one and how it ranges from a great to bad purchase.I understand that the first year’s profit will be lower because of the cost to get the property ready.I put together some figures, and I would love to get your insight on the return on this investment.

Purchase Price:$70,000.00

Down:$14,000.00

Mort/Principal/Interest = $284.00/mo (30yr 4.5% rate)

Prop Taxes = $150.00 / mo

Insurance = $100.00 /mo

Repairs/Maint = $60.00 / mo

Tenant Turnover Cost = $160.00 mo

Total: =$754.00

Rent For Area:$1,100.00

Monthly Profit:$346.00

With all of this factored in, would this be a good investment?

Any insight would be much appreciated

Thank you