All Forum Posts by: Lane Ewert

thank you and I have my pen and paper out taking notes. I'm going next week to see it. It is currently fully rented and has a waiting list so he says. Which made me think it might be all good, however assumptions...... Which makes me wonder why it's being sold. thanks again for your reply's I'm already loving this site!!!

Ok I posted this in another thread- "Ok brand new wannabe investor here. I have a possible deal that if I have worked out correctly will cash flow 2,000 a month. Please let me know if I am doing it right. I want to offer 200k on a property that brings in 4950 in rent. If I use the 2% and 50% rule I am doing ok (if I am understanding them correctly.) It's an older 8 Unit. The only thing I didn't quite understand is how to factor in the loan. I will be putting in 20% 40k on a 30 yr @7%. Is this good? What am I not seeing. Any and all responses are welcome. Thanks " Someone did say its a good deal, and at the end saying "if that's the whole story". So my second part question is what should I be asking to get a bigger picture? Thanks for your reply's

john thanks, I will move it over there. And yes that is my question. "Is that the whole story?" One more question what "other" things should I be looking at? That a lot of new people fail to ask?

Sorry failed to read payment. 1064 a month

Hey scott I actually had not gotten that far. I just saw the deal yesterday and called to a bank so he just gave me a quote. What would be "good"? I mean to make something like this worthwhile? Thank you for your response and sorry for all the questions as I am just trying to get my feet wet.

Ok brand new wannabe investor here. I have a possible deal that if I have worked out correctly will cash flow 2,000 a month. Please let me know if I am doing it right. I want to offer 200k on a property that brings in 4950 in rent. If I use the 2% and 50% rule I am doing ok (if I am understanding them correctly.) It's an older 8 Unit. The only thing I didn't quite understand is how to factor in the loan. I will be putting in 20% 40k on a 30 yr @7%. Is this good? What am I not seeing. Any and all responses are welcome. Thanks