Posted by David on March 11, 2002 at 16:12:28:
the current balance of mortgage on house is approx 105k. I can get house for a total of 118-120k. seller will carry a note for approx 7k, with sellers broker buying that note and me owing him. I would come out of pocket with about 5k. house needs approx 4k fix up to be tip top. based on comps house could sell for 135 or so. based on current rents in this area (WA state) house would rent for 11-1200/mo. after figuring taxes and ins. I came up with 2-300/mo cash flow. does this sound right, and if so, how could I make it better.
Thanks for the help, David