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All Forum Posts by: David Oxandale

David Oxandale has started 7 posts and replied 11 times.

Buying & Selling Real Estate

Post: six single family homes for 200K. Owner Finance. Getting in deep.

David OxandalePosted
  • Real Estate Investor
  • OVERLAND PARK, KS
  • Posts 11
  • Votes 0

Getting back into realestate investing. I have a co-worker that is looking to retire. He owns 6 rentals that need about 5k to get rent ready. I work full time and the houses are 2.5-3 hrs away so will be looking for property management. Here are the specs:

1. Purchase 200K

2. 0 down, 5%rate, 30yrs

3. 5k rehab for rent ready

4. Total estimated rent $3800

5. Management (10%) = 380

6. Capx (200per) = 1200

7. Taxes & Insurance = $7500/yr

I plugged this into the rental calculator using standard percentages on the other items and showed I could net 800-900ish per month. Cash on cash return 200%+. That does not make sense. What do you think?

0 Votes