@Cynthia Elder I can't stand the BP calculator, but it looks like you have a good deal. You have 50% expenses on there, but after repairs, you shouldn't exceed 40% expenses including taxes, insurance, repairs, etc. So, the deal is better than the confusing calculator says. The pro forma and projections, please ignore. Those are market specific and your market may not support increasing the rent every year. Best of luck.
@AnthonyDooley thanks! I'm getting better at this thing little by little. Definitely looking forward to my first Investment!
- Insurance looks high for such an inexpensive property.
- What about water/sewer or other shared utilities, like house electric.
- Lawn care and snow removal?
The cost/rent ratio is what has me worried. This is a 4%+ deal. Those are basically non-existent.
There's only 1 picture in the listing, but just that tells me that there's A LOT more than $8k or work to be done here. Have you walked the property?