My first deal?

[Paul DoCampo]

Hello everyone, after about a dozen or more deal analysis I came across this deal that seems to look pretty good. I used the BP calculator as well.  It would be first deal in a real estate investment:

A duplex in SoCal, 2 hours away from where I live, and 15 mins from a military base (don't know if this is a good thing or not). This is a foreclosure on homepath.com so im only required to put 10% down for non-owner occupier. No landscape because it is out in the desert. 2 bed, 1 bath each unit. total of 1368 square for building, on 8890 square foot lot. Close to freeway and shopping.

Asking price: 65900

After repair value: approx. 90k-100k.

Interest rate: Assuming 5%

PITI: approx. 480

Rent: 790 each (total: 1580)

Utilities: (trash and water = approx. $160)

Expense cost: using 50% rule, $790

Cash Flow: 150

Down Payment: 6590

Repairs: approx. $8000 (im not too sure on this. I have only seen pictures). A rehab calculator told me 11k and that's including new roof, but that just seems way too much. Ill assume it needs new roof since its 50 years old.

closing costs: 2k ?

Out of pocket: approximate 17k

CoC return: 18.7%

Cap Rate: 10.8%

Also, CF may go down a bit if I decide to include repair cost into loan.

According to some  websites I may be able to rent for 850.

Also, The income is not including possible sources of income from say a coin operated  washing machine and dryer