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All Forum Posts by: Mike Hyser

Mike Hyser has started 2 posts and replied 2 times.

General Landlording & Rental Properties

Post: Newbie with first possible rental deal

Mike HyserPosted
  • Posts 2
  • Votes 0

Please let me know what you think of this deal. Apartment house with 4 apartments for $85,000.00.

100% Financing
Monthly payment: 30 Years
Interest rate: 7.000%
Loan amount: $ 85,000.00
$ 565.51 a month

Rents and bed/bath of each unit are as follows.
BM Bath Rent
2 1/0 $625
1 1/0 $395
1 1/0 $435
1 1/0 $550

The way I figure it the numbers work on this house.
Please let me know what you think. Thank You - Mike

0 Votes
Starting Out

Post: Where would you start if you we me?

Mike HyserPosted
  • Posts 2
  • Votes 0

Hello Everyone,

I have been reading this forum for awhile now and alot like it on the internet. I am blown away by how supportive and helpful everyone is here.

I am very interested in starting to invest in the my area (Rochester, NY). Being brand new I have no idea where to start. I was wondering if I could pick your brains on some great starting points.

A little about me I have a few thousand in cash, a bankruptcy 2 1/2 years ago, my credit rating is in the high 600's now. I have a ton of drive to succeed. Is there any hope for someone like me with poor credit history?

I hear and read the stories about people like me suceeding but I never know exactally what to believe. Any helpfull advice would be greatly appreciated.

Thank you - MJ

0 Votes