All Forum Posts by: Ethel Weaver
Ethel Weaver has started 5 posts and replied 59 times.
Post: 3 Unit in Middletown PA - Is this a Good Deal
- Investor
- Harrisburg, PA
- Posts 63
- Votes 6
It will be a 15 year loan.
The property overall condition is good. The owner purchased in 2012 put new electric last year.
It is not a distressed sale.
Current owner allows tenants to store the stuff in garage. The attic can be easily turned into an additional bedroom.
The heat is electric. There are only two water heaters therefore the owner is currently paying the gas bill.
Post: 3 Unit in Middletown PA - Is this a Good Deal
- Investor
- Harrisburg, PA
- Posts 63
- Votes 6
Anyone and provide feedback on this deal. I would like to know if this is a good deal.
Congrats! Never listen to the negative. Always think positive and you will succeed.
Post: Introduction
- Investor
- Harrisburg, PA
- Posts 63
- Votes 6
Welcome aboard Tim!
BP is a great site to learn and bounce ideas off of each other. Welcome aboard
Post: 3 Unit in Middletown PA - Is this a Good Deal
- Investor
- Harrisburg, PA
- Posts 63
- Votes 6
Cost= $83,000 2964 Sq. Ft 3 bedroom 3 bath 1 garage
There are two long term tenants
Near local college
Monthly Rent =$1355 for all three units Median Rent in area is $550.00 per unit
Property Taxes 2994
Insurance 600 per year
Interest Rate 4%
Tenant pays heat and electric
Down Payment 29679 (includes 4134 closing costs)
Monthly payment 754.49 includes insurance and taxes
Maintenance 1620
Gross Income $15447
Utilities = $1500 (Gas, water and trash)
Admin Costs $300
Total Expenses $7014
NOI = $7620
$10,000 set aside for improvements
Cap Rate = 7620/97134 = 7.84
Cash Flow = 2095
ROI = 6% (2095/34884)
Please let me know if these calculations are correct.
Post: 3 Unit in Middletown PA - Is this a Good Deal
- Investor
- Harrisburg, PA
- Posts 63
- Votes 6
Cost= $83,000 2964 Sq. Ft 3 bedroom 3 bath 1 garage
Near local college
Monthly Rent =$1355 for all three units Median Rent in area is $550.00 per unit
Property Taxes 2994
Insurance 600 per year
Interest Rate 4%
Tenant pays heat and electric
Down Payment 29679 (includes 4134 closing costs)
Monthly payment 754.49 includes insurance and taxes
Expenses 1300 (Gas, water and trash)
Post: No more excuses...First deal done!
- Investor
- Harrisburg, PA
- Posts 63
- Votes 6
Congratulations on your first property!
Post: Section 8 tenant's info
- Investor
- Harrisburg, PA
- Posts 63
- Votes 6
I was asking if you gave her bonus incentive
Post: Hello I am a new member that would like to introduce my self
- Investor
- Harrisburg, PA
- Posts 63
- Votes 6
Welcome Vivienne,
Welcome to BP!
There are a lot of learning material on the site. Everyone is very friendly.
Post: section 8 working tenant
- Investor
- Harrisburg, PA
- Posts 63
- Votes 6
I would like to know how to run a report as well.