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All Forum Posts by: Steve W

Steve W has started 1 posts and replied 1 times.

General Landlording & Rental Properties

Post: First timer...Found a house, does it look good?

Steve WPosted
  • Posts 1
  • Votes 0

I am a first timer with rentals and I found a house that I want to "test the waters" with. The house is 60 years old, recently re-modeled, with nearly all new guts.

The numbers:

House is 50k, loan is 12 years with 5% interest. Payment is 460.00.

Taxes on this house is $306.17
Insurance is $574

Rent on the house is $575, with rentals in the area a bit higher than that, most all in the area are rented within 7 days.

Does this sound like a good first investment?

0 Votes