Here is a property that looks interesting. I just want to make sure my numbers are right. I am practicing a couple like these before the real thing. Whats your thought good or bad deal.
Just a few thoughts...
Where are you getting your rental amount?
You don't account for any closing costs, is there a reason why?
I think your interest rate is low, but have you talked w/ a lender to see what they would give you?
I think your repair & capex numbers are low- I would plan 10% for each.
I think there's probably something going on that you and I aren't aware of, this property has been for sale since July, and had multiple price cuts w/ no sale.
Thanks for looking over my numbers. I will had $3,000 for closing costs. When determining capex and repair I was using Brandon's examples from bigger pockets. Is 10% what you use? Yeah it is odd that it has been on since July. I would look into why it has been on the market if this wasn't practice. Do you have any tips when analyzing numbers with the calculator?
I got my numbers from the mls suggested and on zillow looking for comps for that area with similar square footage. How do you estimate rents
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