First Real Estate Investment Deal... SO CLOSE

[Michael Anton]

Hi Community Friends!

I have my first property lined up.

I am going to make an offer of $252,000 (price set at $272K). The place needs some cosmetic updates so that is why I am throwing this offer out. 

- Taxes are $8,000 a year

- Two Family: Tenant pays 1300 and 1200 ($2,500 total)

- We are putting down 5% ($12,600)

Is the ROI significant enough to make this purchase?

Thanks for your help in advance guys!

- Michael