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Updated almost 8 years ago,
First deal - analysis help
Hi there, I'm brand new to this site. Can't even believe a resource like BP exists - there is so much valuable information here and such a supportive community. Just trying to wade through it all with the goal of making my first offer in the coming months.
I'm interested in long-term buy and hold, willing to take a hit on CoC to secure a solid SFR in a B+ or higher neighborhood. Currently looking in and around Kansas City.
Here is an example of the type of deal I'm finding. I'm trying to be conservative with my numbers so I don't overextend myself. Any constructive feedback is welcome! What I'm missing, things to consider, etc. Thanks!
Purchase - $90,000
CTC - $18,000
Rent (annual) - $11,400
Property tax (annual) - $1,200
Insurance (annual) - $600
PM (annual) - $960
Vacancy @ 10% (annual) - $1,140
Repairs @ 10% (annual) - $1,140
Mortgage (annual) - $4,128
Utilities / lawncare - paid by tenant
NOI - $6,360
Cashflow (monthly) - $186
CoC - 12.4%
Not terrible? Really looking forward to hearing your thoughts.