All Forum Posts by: Ryan McKinney

Thank you! I knew I was messing that up.

Purchase price $140,000,

5% down= $7000

$133,000 amor. over 30 years @3.75% with a balloon at ten years.

Monthly payment @615.94 for 120 months is  $73912.80

What would the ballon payment be?    59087.20????

Last night I made a offer on my first investment property. Its actually my second but I lost my first one in foreclosure in the 07ish bubble. Thats another story. It is a duplex Two, one bedroom one bath units.It also has two good sized attached garages. I made a full price offer with the seller paying all closing costs. The property is near Fresno CA.$180000,One unit is rented at $750 and the other is vacant and in dated but very clean condition. I have not done inspections yet.Sewer and water is $175,Ins. $100. 25% down fixed 30 year @ 5.25%. It cash flows about $150. Pretty tight.

As others have said you could take a small piece and have it tested,($75 in central Cali.) but regaurdless the best result is leveling compound and then whatever flooring you choose.

I,m Curious how far down is the pipe?