We apologize, but the forums are closed for new posts. Click Here To Join The Unemployables Facebook Group

Welcome, Guest. Please login or register.
September 25, 2022, 03:24:17 pm
Home Help Search Calendar Login Register

Welcome, Guest. Please login or register.
September 25, 2022, 03:24:17 pm
Home Help Search Calendar Login Register

Author Topic: How good of a deal for Rental Property is this??  (Read 1461 times)

Offline Tien

  • Member
  • ***
  • Posts: 391
How good of a deal for Rental Property is this??
« on: August 17, 2007, 11:56:37 am »
Okay, normally I flip houses but I am seriously comtemplating keeping this property I came across.


Home owner is willing to let go of this Triplex for 160 000 mortgage he has on it + 10 000 he put into it, making it about 170 000.


The places are all rented out at 700, 750, 760 a month making it 2210 rental income per month.


I figured say I put 10-20 000$ down on this property and get private financing from private lender at around 7-8% interest, it would cost me about 900$ a month in payments plus about 500 in taxes and insurance.


So it comes down to about say 1500 a month in payments, 2200 a month in rental income.



The value of this property is about 220 000 on the low end comps and 250 000 on the high end comps.

I can easily flip this for about 30 000 dollars profit to an investor that would for sure buy it at 200 000.


Not quite sure what is the better scenario, ~~500$ a month positive cashflow right off the bat or 30 000$ flip.



I own zero rental properties btw, I have just been flipping properties.

 




SMF 2.0.15 | SMF © 2017, Simple Machines