Hello fellow investors ,
I'm kind of new to investing .Only experience I have is through Don"s books and advice through some REIN members.
I have shortlisted a potential property in a great neighborhood . I have evaluated it from the limited understanding I have ,but looking for insight if it is a good decision or not.Here are the numbers provided by the agent from last year .
DUPLEX
LIST PRICE -419,000
TAXES : 3098
RENTAL INCOME: 29400
ADDITIONAL INCOME (solar panels) : 5160
INSURANCE : 2500
REPAIRS : 1036
TOTAL OP EXPENSES : 12824
Other details: Walking distance to transit and plaza with national brand grocery store.Age of property -23 years
Im looking for suggestions on these numbers if they make sense or not according to the system or your experiences.If not what am I missing and how to evaluate it. Thanks
Pooja
I'm kind of new to investing .Only experience I have is through Don"s books and advice through some REIN members.
I have shortlisted a potential property in a great neighborhood . I have evaluated it from the limited understanding I have ,but looking for insight if it is a good decision or not.Here are the numbers provided by the agent from last year .
DUPLEX
LIST PRICE -419,000
TAXES : 3098
RENTAL INCOME: 29400
ADDITIONAL INCOME (solar panels) : 5160
INSURANCE : 2500
REPAIRS : 1036
TOTAL OP EXPENSES : 12824
Other details: Walking distance to transit and plaza with national brand grocery store.Age of property -23 years
Im looking for suggestions on these numbers if they make sense or not according to the system or your experiences.If not what am I missing and how to evaluate it. Thanks
Pooja