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Updated over 1 year ago on . Most recent reply

User Stats

8
Posts
3
Votes
Ruchit Patel
3
Votes |
8
Posts

Is this is a good deal

Ruchit Patel
Posted

I stumble upon Sub-to deal in Alabama. Based on current terms do you guys think this will be good deal or need to negotiate to make it a deal for me. 
3br/1ba 
Buying46k

down 8000
3% interest
Assignment fee 6000
estimated monthly payment 502 for 7 years
Taxes 1000 yearly

Current Rent 750 but tenant will vacant the property in Sept 

according to my criteria of

Assuming rent 750

MonthlyAnnual
Income:$750.00$9,000.00
Mortgage Pay:$486.25$5,834.99
Vacancy (5%):$37.50$450.00
Management Fee (10%):$71.25$855.00
Property Tax:$90$1080
Total Insurance:$100.00$1,200.00
Maintenance Cost:$166.67$2,000.00
Other Cost:

Cash Flow:-$200-$2400
Net Operating Income (NOI):

 Cashflow is negative but is there anything I’m over estimating.

Most Popular Reply

User Stats

609
Posts
514
Votes
Greg Parker
  • Realtor, Contractor, Property Manager
  • Montgomery AL and Dauphin Island, AL
514
Votes |
609
Posts
Greg Parker
  • Realtor, Contractor, Property Manager
  • Montgomery AL and Dauphin Island, AL
Replied

Maintenance costs may be a tad high, unless that includes saving for capex.

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MGM Property Pros LLC

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