Updated over 2 years ago on . Most recent reply
Is this is a good deal
I stumble upon Sub-to deal in Alabama. Based on current terms do you guys think this will be good deal or need to negotiate to make it a deal for me.
3br/1ba
Buying46k
down 8000
3% interest
Assignment fee 6000
estimated monthly payment 502 for 7 years
Taxes 1000 yearly
Current Rent 750 but tenant will vacant the property in Sept
according to my criteria of
Assuming rent 750
| Monthly | Annual | |
|---|---|---|
| Income: | $750.00 | $9,000.00 |
| Mortgage Pay: | $486.25 | $5,834.99 |
| Vacancy (5%): | $37.50 | $450.00 |
| Management Fee (10%): | $71.25 | $855.00 |
| Property Tax: | $90 | $1080 |
| Total Insurance: | $100.00 | $1,200.00 |
| Maintenance Cost: | $166.67 | $2,000.00 |
| Other Cost: | ||
| Cash Flow: | -$200 | -$2400 |
| Net Operating Income (NOI): |
Cashflow is negative but is there anything I’m over estimating.
Most Popular Reply
Greg Parker
Agent
Property Manager
Pro Member
- Realtor, Contractor, Property Manager
- Montgomery AL and Kowaliga, AL
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Maintenance costs may be a tad high, unless that includes saving for capex.
- Greg Parker
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MGM Property Pros LLC