All Forum Posts by: Account Closed

LOCATION--Is it near Omaha or a decent size city that is growing? Many of the areas in NA are stagnate. Do you KNOW Nabraska? Numbers look doable. I'd be worried about having consistent renters if it's in a small town. Omaha is doing quite well from what I know. 

Would this be it?

https://www.biggerpockets.com/buy-and-hold-calcula...

Cash flow is a bit low..150 to 200 but I live in Nashville and need a problem free property--so to speak. It needs flooring in kitchen and prob. new a/c since it's 20+ bit the house is 2000 sq ft with basement. We'll see. I'm in no rush. I do appreciate your input. Gives me something to think about. 

The property mgmt co. I'm working with said it's one of the better areas. I'm pretty familiar with the city and so would agree. It's in walking distance of Town East. Rents in Wichita seem low which is why the numbers are not so great. 

Single Family Home in WICHITA

Property Information

Asking Price: $85k

Purchase Price: $70,000.00 

Purchase Closing Costs: $???.00 

Estimated Repair Costs: $5,000.00 

Total Cost of Project: $78,000.00 

After Repair Value $92,500.00

Down Payment: $14,000.00 

Loan Amount: $56,000.00 

Amortized Over: 30 years 

Loan Interest Rate: 5.000% 

Income

Rent $850.00

Expenses

Vacancy $42.50 (5%) 

Repairs $42.50 (5%) 

CapEx $42.50 (5%)

Insurance $??? (6%) 

Management $85.00 (10%) 

Property Taxes $90.83 (11%) 

Total $653.95 (77%)

You could look in Hendersonville or Gallatin, TN. They are building hundreds of new apartment complexes up here. Sumner Co. has lower taxes too. Davidson Co. is run by some crazy corrupt people in my opinion. 

View report

*This link comes directly from our calculators, based on information input by the member who posted.