Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 3 years ago,
[Calc Review] Am I going in the right direction with with this?
*This link comes directly from our calculators, based on information input by the member who posted.
Hi all I'm a complete newbie and Brandon Turner says that we should analyze at least one deal a day to get better at analyzing deals. My problem is I have no idea if I'm analyzing deals correctly so I'd like a nudge in the right direction before I continuously analyze the wrong way. I have an example of a deal I've analyzed attached, constructive criticism needed thank you!
So the home I am analyzing is located in Jacksonville, Fl.
https://www.realtor.com/reales...
Purchase
Purchase price : $150,000
closing cost: $6,000 (This is where I need the pushes in the correct direction, I'm not sure what numbers to use)
Loan details
Down payment: $30,000 (20%)
Interest rate: 4%
loan term: 30yrs
These are all standard numbers I am using from watching the analysis videos Brandon does.
Rental Income
Gross Monthly income: $2,170 (bigger pockets rent estimator
Expenses
Property Taxes: $292/month
Insurance: $56/month
I get this information directly from the listing on Realtor.com would I be correct to use these numbers?
(These are the parts I also stress about whether I am assuming correctly or not)
Repairs & maintenance: 5%
Vacancy: 6%
CapEx: 8%
Management Fees: 8%
I'm assuming tenant pays for these?
Electricity: 0
Gas: 0
Water & sewer: 0
Results
Monthly Cash flow: $750/month
CoC Roi : 25%
---------------------------------------------------------------------
So I've analyzed a dozen properties so far but I get many numbers and sometimes too good to be true but I don't know, I haven't attain my first property yet. I'm hoping if someone who already has skin in the game and have analyze and brought properties before could nudge me in the right direction when analyzing properties. Thanks in advance, sorry for the long post.