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Updated over 10 years ago on . Most recent reply

User Stats

174
Posts
27
Votes
Drew Denham
  • Grand Rapids, MI
27
Votes |
174
Posts

Analyze these deals

Drew Denham
  • Grand Rapids, MI
Posted

Deal #1 - 2 unit currently rented at $1150 per month. Built in 1900 new siding roof and furnace. On a busy road in a C area. located close to downtown and currently rented by college students (good or bad?)
Asking price is $32,900 i'm going to start at $22K
Morgtage w/ escrow and maintennce $100 est per month - 430
Down payment $5,000 @ $25K PP
Annual rent @ 93% occupancy - $12,834
Annual expenses @ $7662
COC return 1.5%

Deal#2
2 bed 1 bath 800 sq ft house in a C- area
Asking price is $19900 and motived sellers - going to start $8800
Mortgage with exrow and $100 maintennce per month - 370
Annual rent @ 500$ per month $5580
Annual expenes @ 4458
COC return 56%
Built in 1930

Deal#3
3 bed 1 bath in an A area
Septic tank might need relplacing (REO property) Roof and furnace is shot
HUBZU property
Asking price is $50K (been on the market 1.5 years) and will try to get for high $20's. ARV at peak levels is $90K and will rent $1000 per month.
Morgtage with escrow - $460
Annual rent $12K
Annual exp $5600
COC return 95%
Built in 1965

I'm not a fan of 1900-1940s houses but the value is there. I really like investing in better areas but the ROI on these properties are pretty well. Are you seeing ROI's like these in your areas? Thanks all!

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