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Updated over 10 years ago,

User Stats

117
Posts
35
Votes
Spenser Harding
  • Rental Property Investor
  • Tacoma, WA
35
Votes |
117
Posts

First buy & hold under contract

Spenser Harding
  • Rental Property Investor
  • Tacoma, WA
Posted

So excited to have my first property under contract! I posted a couple months ago about a duplex I was examining and decided to stick with a SFH in the Tacoma area. The property I found is a short sale and is in bank review right now, the only bad part is a 3k lawyer fee to negotiate the short sale. It a 3/2 1300sq ft and is located less than a mile from a Pacfic Lutheran University and also near JBLM military base. Here are the numbers I have found as to numbers:

List price: $125000
Down pmt: 20%
SS Fee: $3000
repairs/cleaning: $2000 (clean carpet/paint interior/landscaping)

Rent: $1295
PITI: $810
Vacancy: $100
Maintenence: $150

Cash flow: $235

Is $150 enough/too much for cap-ex on house less than 10 years old? Please critique!

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