First Deal Analysis (insights?)

[David Denos]

Hello:

I could use some help to see if I am missing anything on this deal. the Purchase price is $85k I think I might be able to get them down to $80k (twenty percent down $16k). Its a two bedroom one bath Condo located in  South Salem, Oregon.

Revenue

Monthly Rental Rate $950

Vacancy: 10%

Monthly Actual Income: $855

Mortgage: 337

Insurance: 40

HOA: 190

Property Tax 108

Property Management 100 (Plan to Manage the Property Personally)

Total Expenses$ 775

Cash Flow: $100 with Management

Cash Flow: $200 without Management

Thanks for your help and time...

[Russ Draper]

It kind of barely meets the 1% rule, unless you want to own this place for yourself I would pass if it were me.