Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago on . Most recent reply

User Stats

3
Posts
0
Votes
Sean Malone
  • Wholesaler
  • Huntsville, AL
0
Votes |
3
Posts

I think I found my first deal. Can you check my numbers?

Sean Malone
  • Wholesaler
  • Huntsville, AL
Posted

Im a virgin landlord looking to buy my first rental and was hoping to get some feedback on my analysis before I make and offer. Iv over estimated the expenses that I have verified and under estimated the rents.

Building 4 units built in the 1940s. Asbestos shingles in good shape. Screw fuse circuit breakers. central air units from around 2008, Roof redone in 2010. Plumbing is pvc. Located on a busy street but in a great area.
Purchase price $105,000
Closing costs $5000
Repairs $5000
Down payment $35,000
Total cost $115,000

Rent $425/unit(3 are filled currently at 450 each)

Expenses(per month)
Taxes $120
Insurance(to be verified before offer) $120
Water/sewer $100
Repairs $160
Capex $80
Vacancy $80
Management $160
Mortgage $430

Total expense $1250
cash Flow $450

How does it look? Did I miss anything major? Thanks

Loading replies...