All Forum Posts by: Daren Miller

@Russell Brazil I understand, threw that in there because that’s the estimated appraisal value if I wanted to pull out equity.

@Bjorik Mutize That’s correct, setting aside 10% of gross rent (each) every month for maintenance.

Nope, turnkey condition All major systems checked out. Updated electric, good plumbing, new water heaters, foundation and roof are solid.

Thanks, I'm just making sure since this is my first deal. Nervous and excited at the same time.

No the 10% isn't my only cash, I'll be looking for more deals like this!

Hey everyone, I have a deal on the table right now.  **updated for formatting issues**

Here are the numbers: 

(THIS WOULD BE MY FIRST DEAL) 

Duplex currently rented with good tenants. $1500/mo gross rent, tenants pay ALL utilities

Listed for $100,000 

Worth $90,000-$95,000 as is 

Under contract for $69,000 cash

Property is solid (already inspected with seasoned investor) I am entering this deal with a 50/50 partner. He is putting up most of the cash. I will be putting down 10% and he’s going to hold a note of about $30K for me at 3%. After my note payment, taxes, ins, and maintenance, I would be positive cash flowing $250/mo 

Thoughts?

Thanks

@Dan Handford Nope, turnkey condition All major systems checked out. Updated electric, good plumbing, new water heaters, foundation and roof are solid.

@Daren Miller Cash deal

Hey everyone, I have a deal on the table right now. Here are the numbers: (THIS WOULD BE MY FIRST DEAL) Duplex currently rented with good tenants. $1500/mo gross rent Listed for $100,000 Worth $90,000-$95,000 as is Under contract for $69,000 property is solid (already inspected with seasoned investor) I am entering this deal with a 50/50 parter. He is putting up most of the cash. I will be putting down 10% and he’s going to hold a note of about $30K for me at 3%. After my note payment, taxes, ins, and maintenance, I would be positive cash flowing about $250/mo Thoughts? Thanks