Updated almost 16 years ago on . Most recent reply
I need some advice
I need some advice. I just placed an offer of 75000 for a 3 family house. I really feel uncomfortable investing so much of my own money. I have the cash to do this but I'm thinking about getting a HELOC off of my 1st property to fund this. Does this look like a good purchase?
Price: 75000 at 6.3%
DWN PMT: 18000
repairs: 30000
per month
rental: 2400.00
Insurance: 100.00
Tax: 283.33
Maintenance: 240.00 (10% of rental income)
water/sewage: 90.00
vacancy: 133.00