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Updated over 5 years ago,
Newbie: Analyzing First Deals
(I wont be buying this, its for practice purposes only) Hi BiggerPockets members, I'm fairly new to real estate investing and would like help analyzing this property. I have heard the entire BiggerPockets show and now want to get into analyzing deals. (Wanted to familiarize myself with real estate language first) If, I were to crowd fund/private money for the downpayment when would I be paying back the investors? If this were a good property? I would get a conventional mortgage for the loan.
This is the property: https://www.realtor.com/reales...
The property is a main house 3bed/2bath + a fourplex in the back 1bed/1bath
The property is listed for: $749,000 I could negotiate the price lower?
Down Payment: $150,000
Principal & Interest: $2,791
Property Tax: $780
Home Insurance: $187
Total Monthly Payment: $3,758 this is the price I would pay to the mortgage every month?
Maintenance Expense: $12,000 this is per year? What does it typically include?
Gross Schedule Income: $79,000 what does this include/mean?
Insurance Expense: $4,000 per year? What does this mean?
Trash Expense: $4,800