Help with roi

I am just starting out. Bought a property for $23,000.00 will cost $10,000.00 to fix . Plan on renting it out for $700.00 per month. Will this be a good deal. Paid cash.

Yes, this should be a good deal. Here is how I see it:

Gross rents: $700 per month
Operating Expenses: $350 per month
NOI: $350 per month

Opportunity cost of money (30 yr, 7%, $33,000): $220

Cash flow (considering the cost of the money): $130

Good deal!


Good :biggrin Thank you, :beer