[Calc Review] Help me analyze this deal

[Michael Riba]

Hi Y'all

I'm just beginning my journey on this path, and I'm looking at a property that has certain synergies for me that might make it work. This is my first post on this forum and the attached report is hypothetical in the sense that I need to verify the rental income (any help here would be greatly appreciated). The property is in an unincorporated area, the houses are older and small, but nicely kept with large private yards, and are competing with other much newer rentals close by.

The numbers in the report do not reflect the possibility that, since there is certainly enough room here, I can live on the property in my fifth wheel trailer and self manage. (I have been living in it for over 2 years now, and although I don't want this as a permanent solution, I can tolerate it for a bit longer.) Also, I'm paying for storage of a cargo trailer which I will no longer need to store. These two items alone represent a cost savings to me of approximately $1,400/month.

I'm not sure that what I'm considering is acceptable to the county, but it just might tip the scale in my favor.

All thoughts greatly appreciated.

Mike

View report

*This link comes directly from our calculators, based on information input by the member who posted.