Need advice on my very first deal...

[David Litzau]

I have been listening and learning from all the discussions, books, and podcasts on BP for the past 5 months.  I'm finally ready to take the plunge and think I found a great property to buy and hold.  I live in Austin, TX and finding properties that cash flow positive has been really tough.  I would like feedback from the forum on whether you think this is a good deal to chase.

• Monthly Income = $1950
• Monthly Expense = $1663
• Purchase Price = $192,500 (think I can get this down)
• Monthly Cash Flow = $286
• Cap Rate = 7%
• Cash on Cash Return = 8.11%

Thanks in advance for the help.

[David Litzau]

Thanks.  Here you go.

• Property tax = $4923 annually
• Insurance = $996 annually
• Misc = $1200 annually
• P&I = $10,033.68 annually
• Management fee = $2106 annually