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
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]
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!