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Updated about 7 years ago, 11/27/2017

Shaun D.'s profile image
Shaun D.'s profile image
Shaun D.
  • from Orinda, California
  • Member since Nov 4, 2017
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Shaun D.'s profile image
Shaun D.'s profile image
Shaun D.
  • from Orinda, California
  • Member since Nov 4, 2017
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Shaun D.
  • Orinda, CA
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6
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Real Estate Deal Analysis & Advice

1st investment property

Shaun D.
  • Orinda, CA
Posted

Hello,

I'm new to RE investing and I would like some advise on the following. I'm considering making an offer on my 1st property. It's 310K - 4 Bedrooms / 2 Bath - 1275 Sq Feet SFR. I'm estimating property taxes and insurance at about $450 monthly. I have 250K on a line of credit with interest at an Annual Percentage rate of 5% that I can utilize. I'm estimating that I'll need to maybe put in an additional 15K for cosmetic fixes. It seems like similar homes in the area rent for 2200.00 monthly. Would you recommend proceeding?

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