Hoping someone can help me. I am looking at a house outside of St Louis which is asking $49,000 for 2 bed, 1 bath, $1000 in immediate expenses with a renter till 10/20 at $775 a month.
My cash on cash percent is 13% at year 1 and 11% by year 5. I am prepared to pay all cash with an annual cash flow of $6,700 at year 1.
Tenant is responsible for all water, gas, etc so the monthly expenses are low. Property tax is also low at $700/year.
If anyone is familiar with the area or can tell me what they think of these numbers- it would be greatly appreciated.
@Courtney Miles have you run the numbers using the BP calculator? That would give you a better idea to if this is a deal.
@Courtney Miles if you plug it all into the BP calculator and share it we all could help you and it will help you. Also if you use the BP Calculator it will help you to make sure you did not forget any major category. Also put in the address so i know what part of town your talking about.
@Peter MacKercher I am not sure how to share my calculator.. User error! I did plug it in- that's how I got the numbers above. But i would be great to confirm I did this correctly.
I will pm you
I haven’t used it myself but I think as a Pro member you can save it as a pdf then forward it. Hope this helps and good luck.
That's right, you can save your report (from the calculator) as a PDF.