Hello

[Todd Whitfield]

I have a property in mind. Note that I am as green as they come, no investmants as of yet. I own my own home. I posted this before but i believe it was in the wron section. I have in front of me now the exact numbers.

I am interested in this property. The question is should I be?

The property is a triplex, townhouse style, vynl sided double pane windows, roof is three years old.

It was built in 1990

Each unit has two beds 1 bath, 850 sq ft and 2 parking spots. Laundry in each unit. Its gas and electric all seperate.

It sits on about 500o sq ft lot in a Urban neighborhood.

Its assessed at 298,000. Land and bldg

Its listed at 99,000 I could probably get it for 90,000.

The average rent in this area is btween 750 and 1000/mo

The taxes are 4500 a year.

Insurance around 700 a year.

I assuming the loan is 7% at 30 years.

Mortgage 650 mo
Taxes 375 mo
Ins 66 mo
save 500mo for unforseen issues.

Rents at the low end would bring in 2400 mo

Leaving 800mo/269 a unit/mo cash flow, which I also would bank because Im a nervous nellie.

I am not sure the rest of the calculations or the formulas you use.

Does this sound feesible, or am i am missing somthing?

Any help greatly appreciated.

Thanks
TC