Subject To My First One! GOOD DEAL?

The deal is 163000 80/20 first is at 8.02% second is 10+ total payment is 1600/mo

OK i take over pay the 1600/mo, and,,,,,,,,, I just rented it for 1450/mo 1 YEAR LEASE

so paper loss against other earinings ( need tax loss!)

HOUSE APPRAISAL IS 172000 i gain 9--k equity and appreciating!!!!

I do closing for warranty deed.......how much is that?

i live in tampa fl, and want to know is this ok deal?

I will refi in 6 mo to 2 years!!!
OR SELL AND NEVER HAVE TO REFI!
i am aquiring another property without paying closing costs no credit drain and gaining future value, the costs will be 2300 to fix up house and deed transfer. EXPENSE 1 YEAR POSSIBLE APPRICIATION IS AT LEAST 10% 17000

DO TELL

Comments(2)

  • mattfish112nd February, 2005

    A lot of investor on this board and all over the world will tell you not to get into a deal where you have negative cash flow... However - if you are looking for a loss, now you have one - just be sure you can afford it...
    [addsig]

  • grabi7773rd February, 2005

    The house is in grerat location is desireable, and is appreciating well 11-20%/year. I WILL have profits of 100,000 this year and will pay less taxes( ANY ONE KNOW HOW MUCH LESS? 600/YEAR??SO NET LOSS IS REALLY 1200?/ )ayong 1600/mo and only renting for 1400/mo.. I will refi after 18months, because the owners, my friends, will have to pay prepayment penalty if sell or refi!

    THE QUESTION IS LOSING $3600 WORTH THE 9000-12000 EQUITY IN THE HOUSE....AND THE FUTURE VALUE GAINS?????? I GET TO SUBLET AND ENJOY FUTURE GAINES MAINTENCE IS MORE LOSSES BUT COSTS ARE LOW I PAY NO CLOSING COSTS NOW AND THE HOUSE ISNT ON MY CREDIT

    THANKS FOR YOUR IDEAS!

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