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Updated almost 7 years ago,

User Stats

78
Posts
14
Votes
Quandra Adams
  • Durham, NC
14
Votes |
78
Posts

I need some help with the #'s on 2 properties

Quandra Adams
  • Durham, NC
Posted

I've ran this report a few times and I got a negative cashflow for one of them so I want to see if someone is willing to help me with this.

Property info-

130K Duplex

$600 rent current 10 yr tenant (should I add my own rent as well since Ill be living on the other side?) 

3500 or $0 closing cost- my agent said the seller might carry closing costs

1626 Property taxes

ARV- No clue how to calculate this but the system will not let me run a report without it. I used the Rental Property report option. What can I do come up with a really good ball park for this? i just doubled the amount of the repairs and added it to the asking price.

3K repairs- This is not mandatory but rather an estimate for what it might take for the space to livable for my part of the unit. I can get this cost down if need be.

$0  or 3K Down Payment- The 0 is in the event I can get a USDA loan which will cover 100% down payment.

4 or 4.5%- loan interest rate

Something just doesn't seem right and I know it's because I am nervous about this. I saw the property today and really like so I'd like someone who is not emotionally attached like I am to look at these figures and help me to determine if this is a good, bad, or decent deal.

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