OVERVIEW Listing 109,900 Purchase 106,000 Down Payment 26,500 Closing Costs 12,393 Cash Needed 38,893 Loan Amount 79,500 Annual Taxes 4,444 CASH FLOW Mo Annual Income 1,480 17,760 Unit 1 800 9,600 Unit 2 680 8,160 OpEx 441 5,290 Homeowners 70 840 Vacancy 74 888 Property Management 89 1,066 Maintenance 74 888 CapEx 74 888 Utilities 60 720 NOI 1,039 12,470 Loan 435 5,220 Taxes 370 4,444 Cash Flow 234 2,806 ANNUAL METRICS Cash on Cash 7.2% Cap Rate 11.8% Payback Period (Yrs) 14

My monthly payment which includes T&I is $579.33Balance is currently $48,368The house is assessed at $91,700 for tax purposesHouse sits on 2 acresHouse is approximately 1,500 square feet, 3 bedrooms, 1 bathThis house is located in the countryThe house is old (50+ yrs) and the septic is a conventional system. 

This might be a $300,000 pot of equity gold at the end of 3 yrs. 

Seller wants 250k down, 130k annually, and will carry the note for 20 yrs. 

The term amortizes out at about 24 yrs. 

I’ve set my goal at 200units in the next 10 yrs.

Hot water tank is 4 yrs old.

I found myself in a similar position about 5 yrs ago. 

I was with Weichert Realtors for 2 yrs. 

Remember that if you are building in a neighborhood that there are no newly built houses you have to be able to beat the price of those old houses although your property is brand new and the rest of the neighborhood is not (If the comps are older than 10 yrs then you will be able to sell for a little more but as an investor don't count on it...).