Is this a valid R.E. opportunity?? Help ASAP. - Posted by Andrew

Posted by Andrew on February 20, 2001 at 12:40:06:

Hi, and thank you for taking the time to help me out. My situation is as follows. I have the possibility to buy a 35K condo property at 7% 30 yrs with about 5K down. I could net $350 after property taxes and condo fees if I rent it out.

My question is how much should I put down this much money, or should I put down less $??

What are the other expenses that usually go into rentals? Is it about 25% of NOI?

Also, I am planning on buying this property with the S corp. I am setting up. For this reason I am assuming I will have to back the S corp personally. since it has no credit. Should this be the best way to do it?

Also, what is the best way of computing the overall ROI? Is it a matter of how long it will take to repay the down payment?

Thank you very much for your immediate help.

Andrew