Updated about 7 years ago on . Most recent reply
Help me analyze this deal - first time rental buyer!
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Congrats on the first post, and hitting up the calculators. You are headed in the right direction. Going to need a little background here.
Are these real numbers, for a real deal that you have received from current owner? Or are some of these guesstimates on your part?
How many units? I assume two based on the price...but then I see the water/sewer at 300/month. Now I know utilities can vary, but i only spend $340 for 8 units/nine people. So that seems out of whack.
I personally would never do that deal, and I think if you look there is better out there. At 7% COC, you are waiting 14 years just to get your cash back, I understand some of that is equity in the form of down payment, but at $12k is repairs and closing costs.
Is there like hope for appreciation? This property priced well below the After Repair Value of others in the neighborhood?