TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

Thanks The older homes usually require some sort of updates to the plumbing/electrical to get a decent rate if you are wanting replacement cost.

Cash flow is definitely the biggest challenge; both in terms of finding properties to buy that cash flow with a loan on them and just company wide given interest rates and labor/material is up and, at least where I'm at in Jackson County, MO, taxes are way up too. 

Average rents are hovering around $1,100 a month, and properties are getting snatched up fast, with vacancy rates staying low.

They are not cheap.

We put it on the market at $3M but never got the offers we wanted, it was during the holidays and when rates were skyrocketing.

But at a lower rate compared to other cities that are growing. 

It gives you insights into occupancy rates, average nightly rates, and revenue potential in your target area. 2.

But to answer your question, House canary is good for rent rates, zillow is a good tool for property data and for seeing what is for rent for how much, sales comps etc. 

*Affordable – Next, Phoenix has relatively affordable properties in comparison to other top metro areas such as Los Angeles and San Francisco, which means that investors have the chance to purchase homes at lower rates, thus increasing their profit margins.