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All Forum Posts by: Ethel Weaver

Ethel Weaver has started 5 posts and replied 59 times.

Post: 3 Unit in Middletown PA - Is this a Good Deal

Ethel WeaverPosted
  • Investor
  • Harrisburg, PA
  • Posts 63
  • Votes 6

It will be a 15 year loan.

The property overall condition is good.  The owner purchased in 2012 put new electric last year.

It is not a distressed sale. 

Current owner allows tenants to store the stuff in garage.  The attic can be easily turned into an additional bedroom.

The heat is electric.  There are only two water heaters therefore the owner is currently paying the gas bill.

Post: 3 Unit in Middletown PA - Is this a Good Deal

Ethel WeaverPosted
  • Investor
  • Harrisburg, PA
  • Posts 63
  • Votes 6

Anyone and provide feedback on this deal.  I would like to know if this is a good deal.

Post: Front Cover

Ethel WeaverPosted
  • Investor
  • Harrisburg, PA
  • Posts 63
  • Votes 6

Congrats!  Never listen to the negative.  Always think positive and you will succeed.

Post: Introduction

Ethel WeaverPosted
  • Investor
  • Harrisburg, PA
  • Posts 63
  • Votes 6

Welcome aboard Tim!

BP is a great site to learn and bounce ideas off of each other.  Welcome aboard

Post: 3 Unit in Middletown PA - Is this a Good Deal

Ethel WeaverPosted
  • Investor
  • Harrisburg, PA
  • Posts 63
  • Votes 6

Cost= $83,000     2964 Sq. Ft          3 bedroom 3 bath 1 garage

There are two long term tenants

Near local college

Monthly Rent =$1355 for all three units Median Rent in area is $550.00 per unit

Property Taxes 2994

Insurance 600 per year

Interest Rate 4%

Tenant pays heat and electric

Down Payment 29679 (includes 4134 closing costs)

Monthly payment 754.49 includes insurance and taxes

Maintenance  1620

Gross Income $15447

Utilities = $1500 (Gas, water and trash)

Admin Costs $300

Total Expenses $7014

NOI = $7620

$10,000 set aside for improvements

Cap Rate = 7620/97134 = 7.84

Cash Flow = 2095

ROI = 6% (2095/34884)

Please let me know if these calculations are correct.

Post: 3 Unit in Middletown PA - Is this a Good Deal

Ethel WeaverPosted
  • Investor
  • Harrisburg, PA
  • Posts 63
  • Votes 6

Cost= $83,000                2964 Sq. Ft       3 bedroom 3 bath  1 garage

Near local college

Monthly Rent =$1355 for all three units      Median Rent in area is $550.00 per unit

Property Taxes 2994

Insurance 600 per year

Interest Rate 4%

Tenant pays heat and electric

Down Payment 29679 (includes 4134 closing costs)

Monthly payment 754.49 includes insurance and taxes

Expenses 1300 (Gas, water and trash)

Post: No more excuses...First deal done!

Ethel WeaverPosted
  • Investor
  • Harrisburg, PA
  • Posts 63
  • Votes 6

Congratulations on your first property!

Post: Section 8 tenant's info

Ethel WeaverPosted
  • Investor
  • Harrisburg, PA
  • Posts 63
  • Votes 6

I was asking if you gave her bonus incentive

Post: Hello I am a new member that would like to introduce my self

Ethel WeaverPosted
  • Investor
  • Harrisburg, PA
  • Posts 63
  • Votes 6

Welcome Vivienne,

Welcome to BP! 

There are a lot of learning material on the site.  Everyone is very friendly.

Post: section 8 working tenant

Ethel WeaverPosted
  • Investor
  • Harrisburg, PA
  • Posts 63
  • Votes 6

I would like to know how to run a report as well.