All Forum Posts by: Trevor Shakiba

I've estimated closing costs at $2k. Can you expound on very tight 1%? You lost me..

Newbie here, would love everyone's input!

Built in 2006, Duplex, each unit is approx 1,600 square feet.

Both units already rented. One is Section 8 at $1,200 per month. The other is $1,150 per month.

$167,500 Sales price, I think I can get it for $160k. So, here are my numbers. Please tell me what I'm missing and why this is not a slam dunk. It certainly appears that way to me!

$160k (Purchase price)

-$40k (25% Down payment)

=$120k

Monthly note: $644 (30 years at 5%)

Projected rent: $2,350

$2,350*50% = $1,175

$1,175 - $644 = $531 cash flow

Thanks everyone!