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Updated almost 7 years ago on . Most recent reply

User Stats

45
Posts
12
Votes
Maria Marrero
  • Investor
  • Port Jefferson Station, NY
12
Votes |
45
Posts

Please help me analyze this Deal

Maria Marrero
  • Investor
  • Port Jefferson Station, NY
Posted

Can someone tell me if this deal is a good one?

Here are the numbers: total purchase price $183k [including all closing fees and repairs].  Monthly rent $1800. Cap Exp $755 [including taxes and insurance].  Total net rent: $1045

Now I know that the numbers look good BUT remember home was purchased with a HELOC loan @3% for the first year, after could go up to 14% but I am planning on paying most of it off. There was also 2 other loans but those were at 0%.

Good deal? 

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