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Updated over 10 years ago on . Most recent reply

User Stats

117
Posts
7
Votes
Mario T.
  • Banker
  • Glen Allen, VA
7
Votes |
117
Posts

question about rental deal

Mario T.
  • Banker
  • Glen Allen, VA
Posted

Hey everyone,

I'm looking to acquire my first rental property. Did my research, the numbers look good, but just wanted to get the people's thoughts before I go through with the transaction.

Price: $13,500

Repairs: $40,000 (contractor estimated $35k then I added another $5k to be overly conservative)

Total Investment: $53,500

Monthly P & L:

Rent: $800

Taxes: $96

Prop. Mgmt: $80

Insurance: $87.58

Deferred Maintenance: $50

Vacancy: $80

Profit per month: $406.42

So tell me- deal or no deal?

Thanks for reading and responding.

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