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Updated over 8 years ago on . Most recent reply

User Stats

74
Posts
14
Votes
Samuel Watts
  • Flipper/Rehabber
  • Lexington, KY
14
Votes |
74
Posts

Single Family Deal. Is it worth it?

Samuel Watts
  • Flipper/Rehabber
  • Lexington, KY
Posted

Hello! I am considering buying a single family home from a local wholesaler (My first rental property). I have ran the numbers and they seem decent to me but I wanted to get some other perspectives.  It is supposed to be a turnkey property but I am going to look at it tomorrow to see what shape it is really in. What do you guys think about these numbers?

Asking Price72,000
Rent900
Down Payment10,000
Mortgage310
Tax72
Insurance67
PMI30
Vacancy90
Repairs150
Costs719
Costs-Mtg409
Cashflow181
Caprate8.183333333
COC21.72

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