Looking at my first deal

[Nicole Harrington]

Is this a deal or not? 

I am looking for a longer-term rental The property needs a little TLC could be rented out right away or do some small TLS and get the higher calculated rent. 

PP $310k   GAR  $25400   Total expenses $6,400  (Taxes $1900, Insurance $1,300 Maintenance $ 100, Vacancy reserve $2,200  self managing, Utilities & trash and lawnservice paid by tenant) 

NOI $20,000 Cash flow $6,275 Cash on cash return 7.82%

Now since I have never done this, I have gathered the information and plugged the numbers in where I could. I have not counted in any repairs or updates, so I know that number is missing and should go into the calculation. 

Thought, what do I need to look out for? 

[Caleb Brown]

What area is this in? Doesn't look great but if the area is hot it could be worth it for the long haul