Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago on . Most recent reply

User Stats

48
Posts
14
Votes
Claude Robinson III
  • Fremont, CA
14
Votes |
48
Posts

Looking for guidance on numbers on possible first deal

Claude Robinson III
  • Fremont, CA
Posted
HI BP fellows, Been reading and listening to podcasts. I am looking to pull the trigger on my first property and wanted to get feedback on the numbers from those who know. 2 bedroom 1.5 bath condo near college campus where vacancies are low. Price 281k Taxes 3200 HOA 200 a month Current rented for 1600/month till June but with some paint and cosmetic work could be rented for 1800-2k like others in area. Looking for guidance on how to value investment. Right now based on calc and tools I see that I would just cover mortgage, taxes and insurance. Claude

Most Popular Reply

User Stats

34
Posts
11
Votes
Phat Vi
  • Rental Property Investor
  • Union City, CA
11
Votes |
34
Posts
Phat Vi
  • Rental Property Investor
  • Union City, CA
Replied

@Claude Robinson III

Maybe you are looking for the appreciation in the future (I don't think this property is in Bay Area based on your listing price so I don't bet too much on appreciation), but just looking at the number, it is a terrible deal. I ran a quick (quite detailed) analysis for you on this property and I think you are in deep RED if you go for this property assuming you will have 25% down for your conventional loan. Your out of pocket annual cash flow is $14,462 in order to own this property. The Expenses maybe a lot but it is a conservative number.

Good luck with searching for your property.

Phat

Loading replies...