Trying to determine if this is a good deal.....

[Brian Campbell]

Could use some help in analyzing this deal. I'm trying to buy 2 more rentals. One is a one bedroom that gets $325/month for rent. Insurance costs are $35/month and taxes would be around $35/month.

I can buy this property for 17K. My bank will loan me the money at 5.5% and $1,700 down. Amortized over 15 years.

The other house is a two bedroom house with a nice garage that rents for $500/month. Taxes are $68/month and insurance is 40/month.

I can buy this house for 33K. Bank will give me same terms with $3,300 down.

Neither house needs any work and both have tenants. Current rent is below market rent.

Please let you know your thoughts.

Thanks!