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Updated almost 8 years ago,

User Stats

11
Posts
3
Votes
Morgan Smith
  • Investor
  • San Francisco, CA
3
Votes |
11
Posts

First deal - analysis help

Morgan Smith
  • Investor
  • San Francisco, CA
Posted

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.

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