All Forum Posts by: J Valansi

Thank you all for your input!

As for the HOA financials, they'll be sent after submitting an offer. I'll cancel if I see any issues there.

I can try offering 10k, increasing the return to 8%. This sounds like a good deal. Am I missing anything?

Hi,

Thanks for the inputs!

The apartment is fairly new (92) and the exterior repairs are covered by the association.

I count 50$ for extra repairs, and I can get prop. management for 500$ a year.

This leaves the return at around 6%. I'll try to negotiate the price. 

I'm about to sign an offer contract, for the first time. I just want to run the numbers through someone before signing.

The numbers: 

Price: $105,000

Down payment: $21,000

Expected rent: $1,250.00 (tenant already renting)

Tax: $179

HOA: $310

Insurance: $39

Mortgage payment: $430

Vacancy: 10%

Total: ~$200 or 9.4% return

The tenants are away, so I didn't see the apartment, but will send for an inspection and appraisal.

This does not include property management which might turn this into a much less attractive deal, but I plan to try manage myself, at least at the beggining. 

What do you think?

Thanks!

I don't have financing yet. I was just looking at rates online.

I'll notify once I get one. 

Thanks for all the feedback!

The rental is a 2/2 in coral springs. The apartment is in good shape, so there aren't any special repair costs.

Asking price: $110,000

Down payment: $36,300

Interest rate: 4%

Rent: $1,250.00

Vacancy: 6%

Tax: $619

Repairs (monthly): $325

Total Income: $14,100

Total expenses: $8,781

Total revenue: $5,319

Cash on cash: 14.65%

I'm not counting management expenses yet, I'll research for those in time.

Your input is much appreciated! Thanks!