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Updated almost 3 years ago on . Most recent reply

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8
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Samantha Baker
1
Votes |
8
Posts

second pair of eyes on an investment property

Samantha Baker
Posted

I have a single family home 4 bed 3 bath that I am looking to invest in in a desirable neighborhood, great school, growing community. 

I have secured great financing. Home is 285k with 5k down. 4 year old home that needs nothing in terms of repairs. Comparing comps it will rent for 2300/month. All the bills, taxes, mortgage per month is 1800. I have run the 2% test.... It almost makes 1%. and meets the 50% rule of thumb. 

Will anyone else help me with the numbers in first glance rental positive cash flow for this property? 

First time real-estate investment here. Sweating bullets, but I am going to start somewhere. I am hoping with this property!!!

Thank you for your knowledge, and advice

-Sam

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