Hello everyone! My name is Nick and I am finally beginning my investing journey with a group of partners. Here are the details:
2 unit home in upstate NY
listed for $49,900
each unit w/2bed 1bath
currently rented @ $1275/month total
Using the BP rental calculator i got the following values w/traditional mortgage 20% down @ 4% :
Cash Flow: $215/month
CoC ROI: 22.49%
10% each toward maintenance, cap ex, and vacancy & 5% toward PM
On paper it looks great, just waiting to get more photos via a virtual tour tomorrow afternoon. Please let me know if you have any feedback or additional expenses I should consider. Also, I would love to know some good FAQs for the agent in regards to the sellers motivation and additional info about the property.
Thanks for reading!