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Property is listed for 170k, been on the market for sometime now. Looking to offer at 150k, or aiming for 145k if possible to hit the 1% rule. However with all other savings for maintain and etx added it does not seem to be a good deal anymore. Am I doing the calculations wrong? Or is this due to the low money down?
operating income is negative every year though you are assuming 0% vacancies? Plus, I would think you'd need a line item for capex to fix up your unit/house.
97% ltv is also really high.
you are banking on the increase in value alone to make money
@Kevin Lim I put vacancy at 10% just to be safe. You are right thought 97% LTV is too high. Just was curious given that at 1% that property does work however with HOA eating up a good portion of profits, it does not leave enough for save for capex's. Thank you for your feedback Kevin! Really appreciate it.
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