Buy and Hold Deal Analysis

[Kenneth Goldman]

I was recently approached by a wholesaler with the following facts for a 2 unit home in Hammond Indiana. I did an analysis and seem to come out with negative operating income but want to check my analysis since I am new to this.

It is a 2 story, 2 unit. with full basement. 5 bedroom, 2 bath. approx. 2254 Sq. ft.

Collecting $1400. month in rents.

Indiana taxes about $1400. a year.

Needs approx. 5-6k in exterior repair.

Asking $41,000.