Updated over 16 years ago on . Most recent reply
Help me analyze this deal
New to the rental world but I've read up on the 50% and 2% rule and I THINK I understand. Between that and using the REI analyzer spreadsheet stickied in this section, it looks like a good deal but it seems to good to be true. Here it is:
Duplex
Newly renovated
New double pane windows, siding,new furnaces, new flooring, paint, lighting, a privacy fenced back yard and a 2+ car garage and shed
Price: $59,000
Yearly taxes: $1,386.36
Estimated property insurance: $100 monthly
Property management fee: 8% of rent collected
Estimated rent: $600 per door
Finance $55k @ 6% for 30 years = $330/month mortgage
What am I missing?