Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on . Most recent reply

Account Closed
0
Votes |
17
Posts

Analyze my first deal

Account Closed
Posted
Hello everybody, I am hoping to get your opinions on my first deal. I’m new to bigger pockets and I’m eager to get your thoughts. I bought a 2 bedroom 2 bath cape cod style house back in April of 2018 in Greece NY for $47,000. I put 4700 down and after closing costs and lawyer fees I was into the deal for $8900. The previous owner was a complete slum lord so after a lot of back and forth with the building inspector I put another $4000 into renovating and and getting everything up to code. The tenets have been great and it currently rents for $900 a month. My mortgage payment with property tax, school tax and insurance puts me at $558 dollars a month. The tenets are responsible for electric, yard maintenance and snow removal. I am responsible for the water bill and quarterly that’s been on avareage $28. What are your thoughts on my first deal? Any advice for a newbie?

Loading replies...