All Forum Posts by: Ted Tackeberry

Hello Isaac,

Here is how I would evaluate it.

$575-20% down= $460K financed. @6%= $2,760 per month

Total income $33,600 per year

                      -      $8,400 (I figure -25% for management, vacancies & repairs)

                      -    $33,120 annual payment

                      -     $3,300  for taxes

                     -      $ ??       water

                      -    $ ??       Insurance

                     =  $-7,920  already loosing money without water and insurance.  

Do you have any good comps that would tell you the value?  At first run of the numbers this does not appear like a good deal.

Hope this helps,

Ted

What do you call "cheap buy in and good potential"?

Welcome to the BP group.

@George P.

Excellent work! Thanks for sharing.  

@Bryan Blancke 

I have ran into the same thing in Southeast Michigan. The MLS is highly competitive. Try direct mail via listsource or melissadata. These options may lend other opportunities that you will not see on the MLS.