Good deal at less that 2% rule?
Hello Everyone!
I have a question on a property I am seriously considering.
Purchase price would come out to $180,000 ARV would be $195,000 with $10,000 Reno.
Its a 2 unit property and would bring in $1,900.
Monthly expenses come out to $1,385.63 with a cash flow of $514.37.
Financial Info
0.93%2% RULE
$46,000.00TOTAL INITIAL EQUITY
7.89GROSS RENT MULTIPLIER
1.81 / 1.70DEBT COVERAGE RATIO
I believe this is a good deal but lost on the rules...