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Updated about 10 years ago,
Need Advice on this deal
I have opportunity to purchase a single family 3BR 1.5 BA 1610 Living area with a tenant already their paying $900 per month. The asking price is $65,000 for the property. I have a banker that will do a 100 percent financing at a interest rate of 5.75 for 30 years. What do you think about this deal. Is there anything i'm missing for as expenses? What do you think about this deal?
Insurance & property Taxes $150 per month
Property Manager $90.00 per month
Vacancy - $45 per month