[Calc Review] My first cashflow deal
*This link comes directly from our calculators, based on information input by the member who posted.
Hi all!
This is my first time posting in the forum, and I decided to do it by sharing my first cash flowing deal that I was able to find after several changes in the rental calculator.
I do not understand the "financial info" in the report, so I was hoping that some more experienced investor could chime in and try to explain me the meaning of them. For instance, in my report I see:
* 1.07% 2% rule --> Why 1.07? I thought this was just a rule to say that my income has to be more than 2% the price of the property. The income for this report ($4000) is more than 1.07% of $345,000 (without counting repair), and more than 1.07% of $373,000 (including repair), so I don't get where that 1.07% is coming from.
* Gross Rent Multiplier: 7.19 --> What does this mean?
Other than that, I can see a cash on cash return > 12%, which is good, and > $200 per unit, which is good. What do you guys think?
Thanks a lot for helping me get better at analyzing deals :)
Victor.