OK WORKING ANOTHER SET OF NUMBERS

[Jason Chambers]

PURCHASE PRICE IS 65000

MORTGAGE 300

INSURANCE IS 75

REPAIRS 10% 65

VACANCY 10% 65

PM-10% 65

PROPERT TX 54

RENT IS 1025 FOR THE ENTIRE PROPERTY.

NOW THE PROPERTY IS A 952 SQ FT HOME BUILT IN 1948. ITS MADE OF BRINK AND HAS ALL NEW WIRING AND ROOF.  THE PLUMBING HAS BEEN REPLACED 5 YEARS AGO. IT HAS BEEN UPDATED WITH CENTRAL HEAT AND AIR.  IT HAS AN OUT BUILDING THAT CAN EASILY BE CONVERTED INTO ANOTHER SMALL ONE BEDROOM  APT.  THE OUTBUILDING ALSO HAS CENTRAL HEAT AND AIR. VERY CLEAN PROPERTY. AFTER RENTING THE HOUSE FOR 675 AND THE OUTBUILDING FOR 375 I FEEL THIS WOULD BE A GOOD DEAL. I APPLIED THE 50 RULE AND ITS CLOSELY MATCHES THE TRUE NUMBERS I HAVE CAME UP WITH.  MY GOAL IN MY PROPERTIES IS $400 CASHFLOW. BY MY CALCULATIONS I WOULD HIT IT BUT I NEED SOMEONE WITH EXPERIENCE TO LOOK AT IT AND TELL ME WHAT IM MISSING. THANKS AGAIN TO EVERYONE