Opinions Greatly Appreciated
I am trying to get my head around numbers.
My direction is to concentrate on cash flow.
Here is one option.
3 houses on one deed
1-2Br and 2-3Br
Approx. 40 yrs old, renovated inside and out 10 years ago
No immediate repairs required.
Total rental income 2005/month
Renters pay utilities
2 long term renters-10yrs, 5yrs plus one new renter
Taxes 1084/yr
Rural property near RR trax, so not much appreciation potential
Property is listed at 210000
single family in area are 140000 to 160000
I would estimate these seperatly would be 100000 (township won't seperate)
present owners have held for 3 years- I have to check on there purchase price
My financial options are as follows:
Offer 160000-170000 max
Finance total at 6.25% variable (interest only) lock in at any time
Same financing but pay up to 40000 down
Morgage at 6%
Opinions if any?