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Updated about 5 years ago,
Help me Review my first 2 deals
Hello, I am a new real estate investor in Eastern Iowa. I currently have 2 deals done and looking for feedback from more experienced investors. Do my numbers I'm budgeting/allocating for set me up for long term success? I'm fine with being conservative because my wife and I both work 9-5 jobs.
Deal #1 Single Family Home- BRRRR- 26% equity with $0 down
Monthly Rent: $1025
Monthly expenses: 5% vacancy, 5% repair, 10% capex, 8% Property Management, $600 mortgage/tax/insurance payment, No utilities
My Share Each month = $140
Deal #2 Duplex- BRRRR- 27.5% equity with $0 down
Monthly Rent: $1350
Monthly Expenses: 5% vacancy, 5% repair, 10% capex, 8% Property Management, $700 mortgage/tax/insurance, I currently do Mowing/Snow removal, No utilities
My Share Each month = $280
FYI- The mortgage/tax/insurance is an actual number and the 8% is what I'm currently paying my PM. So those numbers won't fluctuate this year.
Thank you in advance!