Second eyes on some numbers

[Kevin Scott]

Hey. Just about to pull the trigger on a purchase in Florida, north of Fort Myers south of Tampa. It’s a duplex with 30%down for mortgage reasons. The numbers still work. But certainly not a home run. Just a base hit I feel. Mind you this is the first time at bat in the majors. Purchase 220k, monthly income 1850, monthly expenses 1441, purchase cap rate 6.61%, cash on cash 6.66%. Cash flow 408/mo I’m figuring this isn’t bad as a getting in the game starting point. Thoughts?

[Brit Foshee]

@Kevin Scott

Kevin,

From Fort Myers here.  I honestly think you can do better.  You can find duplexes in Lehigh still for under 200K and you should be able to achieve at least $1,000 per side. This is just one example. I could point you to several others.

Best of luck!

Brit