All Forum Posts by: Stevie Penn

Yes, the numbers are very accurate. We actually found a really good tenant (excellent income and verified renting history) willing to pay $1675. The tenant is long term so I believe this is a great investment.

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Hey guys, thanks for your input, I appreciate it.

I have new accurate numbers now.

$45,000 initial cost  

Income

Rent        $1565 per month

Expenses (per month)

HOA $24

Insurance $66

Taxes       $143.30  

Mortgage  $670

Management (9%): $140.85

Might self manage for start but later on

Vacancy + CapEx: $150.00

The house requires no repairs initially and things like the roof, a/c, etc are new

Total Monthly Expenses comes to $1194.15

$1565 - 1194.15 = $370.85 cash flow per month

$4,450.20/$45,000 = 9.89% CoC

I'm not the best at math, but please share your input. The rent could be higher, I made the numbers very safe and reliable. 

Extra: I'm not sure about your guys area, but houses here are in high demand due to amazon and some other major companies coming. I intend to hold long term if I pull the trigger, but will covid burst this bubble anytime soon?            

Looking at a SFH as first time investment [cash deal]

House is located in excellent area with plenty of jobs and hot market for houses

Overview:

House is super clean and requires no repairs

Cost of house is $180,000    

 Rent                 $1565

Yearly Gross:     $18,780

Yearly net:        $14,280 after taxes, insurance, management, added extra expenses to be safe: $14,280

I am thinking about doing delayed financing with this one to get 75% of cash back and using it towards something else.

Properties in the area have been appreciating ridiculously 
Any input would be nice, im eager to learn