$85000 3 bedroom home .
morgage payment interest only 325
rental $450/month
taxes $200 /year .
100 properties at this level[ Edited by pmcpmc on Date 09/21/2004 ]
do you have the addresses or locations...probably could run comps if i knew where to and compare... one thing you want to make sure is that the property does appraise ... what kind of capitilization rate you want on the return of your money ... and remember that your loan % based on your credit or if you are using a straw buyer (investor)... hit me up ... your loan payments will change and maybe your mortage will be 500 a month... :-?
Don't forget to ask what the property tax rate is. This figure alone can consume all of your profit and more. New York and
Texas have really high property tax rates!
Why do you think people in California can afford to have prices go up so high? Fortunately, at this time, our tax rate is lower in comparrison!
do you have the addresses or locations...probably could run comps if i knew where to and compare... one thing you want to make sure is that the property does appraise ... what kind of capitilization rate you want on the return of your money ... and remember that your loan % based on your credit or if you are using a straw buyer (investor)... hit me up ... your loan payments will change and maybe your mortage will be 500 a month... :-?
If you're looking to purchase and hold as a rental it's not even close to being a good deal.
Isn't $450.00 kind of low for a house that price?
you need to factor in taxes, ins, 5% vacancy and reserves. If after all these expenses you have 150 and up then it could be good deal.
[addsig]
Don't forget to ask what the property tax rate is. This figure alone can consume all of your profit and more. New York and
Texas have really high property tax rates!
Why do you think people in California can afford to have prices go up so high? Fortunately, at this time, our tax rate is lower in comparrison!