Updated over 7 years ago on . Most recent reply
Trying to find my first deal
6 townhomes
$27,500 each
$165,000 total
Offer $135,000
Financing 20%down $27,000
Finance $108,000 at 4.5% for 30yrs (heloc) so rate is estimate. $547.22
Fully occupied. Professionally managed.
Rent $450 each 2beds 1.5 bath
$2,700 monthly
$32,400 yearly
$2,700
-$270- 10% property management
-$550- mortgage
-$80- tax insurance
-$1,080- 40% for expenses
—————————-
=$720 a month
$8640 a year
No HOA
I haven’t viewed properties just pictures of two units. Don’t want to further bother him if numbers don’t even make sense.