All Forum Posts by: Jordon Milford

Needing some feed back on a 2 bed 1 bath house, 1200 sqft with an added bonus room upstairs. Planning to eventually make it a rental property but will be primary for the time being. Asking: 65,000 Down: 5,000 Closing: 2,800 taxes: 900/yr insurance: 800/yr make ready: 1,500 Rent is currently 600-675 in this area for 2/1. Could possibly demand more with a bonus room (unofficial bedroom due to ceiling height, it has window and Hvac) I have used a few calculators to help evaluate but I’m not sure what rule I should follow as this with be a primary for at least a year minimum then eventually a rental property. 50%, 1%, 2%? Thanks!

I bought a duplex, 2/2 each side 7 yeara ago (FHA) lived in it for about two years then bought my 3/2 residence. Planning to purchase a small property for grandparents to downsize in and rent. Property will become a rental when the time comes. Need help on evaluating for a rental 2 bedroom, 1 bath 900 sqft Purchase price: 65,000 Down: 20% (13,000) Rent: 625-650/mo Considering HELOC loan on one of my properties to hold onto down cash, or should I use cash for down? Thanks