All Forum Posts by: Bobby Gupta

From what i found out the renters have lived there for 3 years and 5 years now and rent is definitely below market! average duplex in that neighborhood rents for $895.

Well I did not want to do 30 year mortage! if i do 30 years then all numbers work out!!

I am seriously thinking about getting this property.

two unit property with two duplexes occupied with two renters who have one year lease left on them.

renter 1. $750

renter 2. $700

Taxes $1774 yearly

sale price 152,900 

Property is in good shape and should not need anything for 5-6 years 

with 20% down 15 years mortgage is $914 plus $250 in taxes and insurances =$1164 with cash flow of $286

Property is appraised at 158500 by appraiser. I am buying and holding right now! I have no plans for selling this in near future!

This is my first post buy I have been reading post for couple of months now.

I am closing on my first rental property tomorrow

here are the details:

Appraised value 139k

I paid 126k for the property its 5 year old townhome which I bought  from a friend as she was moving to FL.

I put 20% down plus closing costs for 15 year fixed

my mortgage is $ 1058 with taxes and HOA and I have already rented out property for $1159 for two year lease. Well after all said and done this property doesn't look like a good cash flow deal as everyone concentrate on here.

Where do I find properties which I can scoop for cheap??? auction, court house  etc I have 35000 cash in hand and I want to invest.

Anyone from Kansas city Metro?