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Updated almost 10 years ago on . Most recent reply

User Stats

52
Posts
3
Votes
Danny Woodson
  • Detroit, MI
3
Votes |
52
Posts

is my math right?

Danny Woodson
  • Detroit, MI
Posted

140k arv.  i can pay all cash, no lending costs.. condo fees 275/mo prop taxes are 333/mo. transfer tax 1.5%. i estimated insurance as 200/mo utilities 100/mo

140k- 4 months of holding costs $5,932- first set closing costs 1650 (if i buy at 110k)- 15k repairs - 2100 (second closing cost at 140k) - 20k profit =

$95,318 M/O

is that accurate or did i screw something up

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