Updated about 7 years ago on . Most recent reply
[Calc Review] Help me analyze this deal
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Hey Robert,
Welcome to BP!
It's hard to give you great feedback on this. The numbers look decent, but it also depends on the market. Can you get $1700 / month ALL DAY & EVERYDAY? Or is that a stretch # for you? What other market info can you share? Or do you not know much about the market? If so, do your research. Call property managers in the market you're looking to buy in, drive around the neighborhood (and a 2nd time at night) or look at google street view, check out Hotpads.com or Rentometer to see what current rents are in the area, check out city-data.com to get economic info for your area, etc.
To answer your question based off the numbers, looks great. If you can get 1% the purchase price of the home, per month, in rent, you should be good, assuming there's not a ton of CapEx you have to worry about.
Hope that helps! I'm sure others will chime in too!