Here's a deal for the crew to analyze - Buy & Hold

[Thomas Blaine]

Single Family Home

Brick - 3 Bed - 1 Bath - Basement - Garage

Solid Middle Class Detroit Suburb

Price = $63,000

Closing & Repairs = $5000

Taxes = $2700

Insurance = $950

Maintenance = $1500

Potential Rent = $1025 - $1050

I would like to analyze this as a cash purchase.

But I will be using $60k @ 10% paid off in full over 3 years to finance this deal from a . I have other F&C rentals to cover the loan.

Thanks for the replys. Great to see others thoughts on these deals.

[Pat L.]

Originally posted by John Knappmann:

It looks solid to me, although it would depend on the suburb to take appreciation into account. But Rick, how did you calculate three years payback?

@John Knappmann

running the #'s he will have it paid off in 3 yrs but for 36 months he is out-of-pocket around $173/mo. (I also added $1500 a yr for preventative maintenance.)

It's an excellent strategy & its one I adhered to back in the days of (needing) financing (but similarly I could afford the annoying monthly loss).