Rental #10 was purchased

[George P.]

Yesterday.

here are the details:

2 months ago the asking was 89.9k. I offered 75. they came back at 89. I laughed. they came down to 83. I came up to 76.5. They came down to 78. we were $1,500 apart. We had no deal.

3 weeks later price was lowered to 78. I offered 70. after six back and forth, i purchased the house for 72k - 4.5k under what i would have paid the first time.

anyway

PP - 72k
taxes - ~2200
interest - 4.7
insurance - 762

total monthly payment ~ 535
potential rent - $1075-1150
potential profit - $540-$615

30 year fixed, 25% down

expected repairs $15-22k, 1.5 months.

meanwhile, #11 is under contract. but more on that when i close on it.

@Mark Ferguson , similar to your strategy. just a few tweaks to it.