Newbie's second offer in Santa Clarita (Los Angeles), CA

[Brett D.]

2 bed 2 bath, 1020 sq ft, built 1987

$355,000 offer ($365,000 asking)

$30,000 to make rent ready (includes $3500 two months holding costs)

$1141 mortgage (25% down at 3.125% for 30 years)

$381 taxes

$75 insurance

$150 HOA

$141 vacancy (6%)

$265 maintenance and capex (12%)

$2350 rent

$197 cash flow

$400,000 - $405,000 ARV

I think this one is accurate compared to my last attempt.  Thoughts appreciated.

Brett

[Joe Steele]

@Brett D. - what about OOS options with a light/handyman rehab? I've done this in markets like Huntsville where I'm only spending $5-10k to get it rent ready and they cash flow pretty well. Yes I use a PM, but that removes most of the headaches for me.