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Updated about 13 years ago on . Most recent reply

Mic Nguyen's profile image
Mic Nguyen's profile image
Mic Nguyen
  • Real Estate Broker
  • from pensacola, FL
  • Member since Sep 15, 2010
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User Stats

48
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4
Votes
Mic Nguyen's profile image
Mic Nguyen's profile image
Mic Nguyen
  • Real Estate Broker
  • from pensacola, FL
  • Member since Sep 15, 2010
Connect
Mic Nguyen
  • Real Estate Broker
  • pensacola, FL
4
Votes |
48
Posts
Real Estate Deal Analysis & Advice

Math on potential deal

Mic Nguyen
  • Real Estate Broker
  • pensacola, FL
Posted

I have found a home that I would like to buy as a 2nd home/Rental. I know this probably sounds insane, but I cannot get a loan.

Purchase price 60k cash.
Montly income 8400.00 annually
annual insurance 495.00
annual tax 1015.00 per 2011 year
leaves me with 6890 NOI before R&R
ROI 11.4%

Home is out of state and would use as a potential vacation home in between tenants.
How crazy is this?

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