Analyzing Potential First Investment

[Ricardo Padron]

Hey Everyone,

After listening and reading a good amount of material, I am finally trying to jump into real estate investing. I've been looking for investment opportunities in my area and after analyzing a few I came across a property that numbers stood out. This made me question why the owner was selling. After asking my realtor, I was told that the seller was actually selling all of their investment properties. I still think that there might be more to it. The photos of the property look good, but the foundation is what I am unsure of. This property has Pier and Beam foundation. I'm not sure if this is a red flag since I do not have any experience at the moment. It's location is good being near a main street with lots of business's, minutes away from the highway, and zoned to good schools. I have attached a photo of the spreadsheet I used to analyze this property. I am new to this so any advice or critique on the spreadsheet is greatly appreciated.

Note: I was pre-approved for a $125,000 mortgage but was told I could get up to $150,000 in certain situations.