Before I make my first purchase

[Robert Arquilla]

Okay so I’ve done a couple of these but after saving up some cash reserves for awhile I’m finally ready to make an offer on a property.

I found a single family house in a quite neighborhood which I know very well (used to live on the same road). It’s listed for 43k and someone could move right in. It has 3 beds and two baths with about 1500 sf built around 1960. I’m hoping to get an offer accepted around 36-39k which would bring the principle, interest and taxes around 300. I figure another 50 for capex, 50 for vacancy, and 50 for maintenance so all in around 450.

I did some research online and also asked a realtor that works specifically with investors about rent estimates and she believes it should rent from 675-775. So should cash flow 225-325 per month.

I would appreciate any thoughts or insights, tips for a nubie.

Thanks everyone!