Submitted my first offer!

[Jairo Castaneda-Gomez]

Today I submitted my first offer!

The property is a Duplex posted on the MLS for $235k (I'm willing to pay full price although i did submit the offer for $220k to see if they'll bite).

Both units are 2bd 1bth and are occupied.

- Unit A $1100

- Unit B $1187

Total $2287/mo or $27,444/yr

Expenses listed are:

- Insurance $670

- Water sewer $1500

- New taxes 2820

Total $4990/yr

Estimated Mortgage

- $1500/mo

$27444 - $22990 = (cashflow) $4454/yr

So in other words...

WISH ME LUCK!

This would be a great 1st investment. As long as I’m not missing anything.

[Jairo Castaneda-Gomez]

@Geordy Rostad

Oh yes! Actuals will be verified asap!

I did use the calculator to add utility estimates in addition to Vacancy, Maintenance/Repairs, CapEx, and Management. That totaled to another 19% being set aside and I should still cashflow $137/mo. The Cash on Cash ROI is 9.33%. Thats at full price.
If they accept my offer of $220k that shoots my cashflow up to $180/mo with a 12.62% ROI.

Thank you man! I'm very nervous/excited!