Found a Short Sale- Want to double ck my numbers w/the forum

[Jan Fensterer]

Hi There-

It's been a while since I had a rental, I am now a Realtor, for the past 7 years- Looking into getting that passive income going- The following in the deal I am looking at:

ABQ, NM

Short Sale

1-story, 3 bed, 2ba, 2 car garage

Accepted offer from Seller @$137,500

Need to see if Bank agrees

30% down

Mortgage to be $96,250

I can get an interest rate of 4.650%- or pay $885, and buy down to 4.5%

Amortized over 30 years

Mortgage w/insurance & taxes is: $674.00

I can rent it for $1095.00

After adding my 5% for repairs & 5% for vacancy, I am looking at $291.00 per month cash flow

It needs less than 4k in fix up, all mechanicals, roof and yard look good-I know with the fix up, I could sell it right now for $159k

I guess I need a little feedback and how you feel about the interest buy down

Good home, good neighborhood- needs very little work-

Appreciate it- Many Tnx