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Updated almost 14 years ago on . Most recent reply
First deal
Hey guys, I am about to pull the trigger on my first deal and would appreciate to see some thumbs up or down from you guys. This is actually a package 2 house deal that would be long term rentals. The cumulative numbers are:
Price: 60k
Down payment: 9k
Taxes and insurance:2900
Repairs: 20k (conservative)
Financing: Seller financed 5 yr balloon with payments amortized to 20 yrs.
Rents: 1400 easy
Closing cost?? Not sure yet.
Property management: me
Any thoughts or things I am overlooking?