Hew Member - Need Help Analyzing Deal
Hello,
I am a new member to bigger pockets. I've been listening to podcasts for a while and am starting to analyze deals in my area. I'm hoping someone can provide feedback on the below deal. I especially need help understanding the expenses side of things (what if any repairs are needed). My goal is to generate strong monthly cash flow.
The Deal:
Fresno CA area
Sales Price $155K
5 Bed, 2 bath 1,500sqft.
Has newer carpets, paints, appliances. (I'm estimating ~$20k for additional repairs and new appliances)
I think typical rents/room in the area are $600/mo. and hope to rent out all 5 rooms with 10% vacancy rate. (estimate found on craigslist...any other advice on how to estimate rents?)