guys i need some experience !

[Alberto Urena]

Hey guys I'm new trying learn. thinking about making an offer on this one HOW MUCH WOULD YOU OFFER ? i did the 50 $ rule it said it'd cash flow $ 750 per month, i also used the BP calculator and it said it'd cash flow $720.

9 beds 4 baths 4,216 sqft

Price $460,000

Total income $4,700

45 days on the market

Built in 1969

Principal & Interest $1,580

Taxes $460 a month

Homeowners Insurance $ 100 a month

About $600 on expensive

I'm doing conventional so i have to put down 25 % that's $115,000 Mortgage payments to be around $2,100 so is this a good deal ? how much should i try to offer on it ? PLEASE LET ME KNOW IF I NEED TO GET SOME MORE INFORMATION. THANKS !!!

[Connor Maloney]

Alb,

I agree with John Ponts. If your calculations are right, for putting 25% down, I would look for a better deal if your cash flow is only $750/month. I get about a $1000 cash flow per month from a 4-plex property that I just purchased with only 3.5% down and I have to pay PMI of $315/month because it is an FHA loan. Also, prices are really high right now in Anchorage, which makes it even harder to find good deals, but if you look hard enough, you'll find one!

- Connor