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10
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Hemant Bhagwat
  • Investor
  • Raleigh, NC
0
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10
Posts

Rental deal or no deal

Hemant Bhagwat
  • Investor
  • Raleigh, NC
Posted

Hello folks

This will be my first deal! Still learning a lot of concepts, ratios, etc. This fits in 1% rule but not 100% confident. Here are the details:

3Bd/ 2 bath SF house in a community close to businesses and malls. Looking to hold for about 5 yrs.

Purchase price - $61,000 (Market value about $82,000)

Initial investment - $4,000 (paint/ repairs/ appliances)

Rent - $825/ month (based on recent comparable rentals)

Taxes/ insurance - $133/ month

Property Mgmt - $82.5/ month

Paying cash and will re-fi in 6 months.

Thanks

Hemant

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