26 January 2018 | 13 replies
My original thought was I may be able to "house hack" but I think I'd prefer to rent it out due to the high rent.Duplex Details:Asking Price: 350kFront unit under contract until Aug 2018 @ 1150mo.Market Rent Rate is $1300-$1400moBuilt 1977, solid brick construction, 900sq ft and unfinished full basement (x2)Garage attached to rear unit New 40yr roof replaced 4yrs agoRental Property Calc for Ann Arbor Duplex (link to see property analysis)I can afford a down payment of 20k so I've ran the deal analysis for a FHA loan: 3.5% downClosing costs: $7410 ($5910, 1.75% one time Insurance fee + $1500, Inspection and other)PMI = $243mo (0.85%)Property Taxes $703moI've included minimal expenses for cap-ex and vacancy.My conclusions: PMI makes this a bad deal for me.
4 September 2021 | 18 replies
The product you seek is not in our wheel house at this time.
15 June 2010 | 341 replies
As I've mentioned before, I don't worry about when to sell, no more than I try to time the stock market or the Roulette wheel!
10 June 2024 | 27 replies
I've had out of state rentals since 1997, and started by following others that had already done all the research and ground work - there was no reason to reinvent the wheel.