We all love good bargains we search the 2 for one special, clearance sections and sale racks all the time. Real Estate investing whether you are an amateur , part time ,novice investor or even a first time home buyer it shouldn’t be any different. Your purchase decisions are always based on many things such as location, condition and most importantly your budget. This formula its used to help us and guide us to offer just the right amount.Click here if you liketo buy a guide to investing in duplexes, triplexes, andQuads.
As you can see it makes sense the asking price for this Duplex is 122,000 and the repair estimate is of course of a license contractor you could save yourself about half of that if you do it yourself it is solely up to you. If you like to know more about this property or would like other great Bargains please call our office ( 305) 364-0037 email mdelgado@globalmarketrealty.com we can FINd the Deal you have been looking for.
Ready to move to Miami? We have several Miami Homes, Miami Foreclosures, Miami Rentals, Miami luxury foreclosures, Miami Condo foreclosures. Search the Local MLS for Hundreds of Miami Homes and Miami Real Estate. Please contact us for a list Miami homes.
Investing in a Miami Real Estate Foreclosure
A true Bargain.
We all love good bargains we search the 2 for one special, clearance sections and sale racks all the time. Real Estate investing whether you are an amateur , part time ,novice investor or even a first time home buyer it shouldn’t be any different. Your purchase decisions are always based on many things such as location, condition and most importantly your budget. This formula its used to help us and guide us to offer just the right amount.Click here if you liketo buy a guide to investing in duplexes, triplexes, andQuads.
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Formula :
Rent * 12 (month) = Gross rent
Gross rent – Operating expenses ( Taxes & insurance Yearly) = NOI (Net operating Income)
NOI % capitalization rate = Property value.
900*2=1800 * 12(year) =21,600
21,600- 4500(last year taxes) (1900) insurance= 15,200 (NOI)
15,200/ 11% = 138,181.82- (12) repairs= 126,181.82 estimated value.
You can also financing this property take a look how the financing loan will be structured.
Offer: 120,000
Down payment: 12,000
Financed amount: 108,000
Term: 30
Interest: 7%
Payment: 718.53 ( principal & interest) ( 533.33) ( taxes & insurance)
Monthly Payment = 1,251.86
Property specifications
Rooms: 4
Bathrooms:2
Sqft: 1865
Roof: Good
A/C: Wall units
Taxes: 4887 ( last Year)
Rent: Section 8 approved 900 each side.
As you can see it makes sense the asking price for this Duplex is 122,000 and the repair estimate is of course of a license contractor you could save yourself about half of that if you do it yourself it is solely up to you. If you like to know more about this property or would like other great Bargains please call our office ( 305) 364-0037 email mdelgado@globalmarketrealty.com we can FINd the Deal you have been looking for.
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Ready to move to Miami? We have several Miami Homes, Miami Foreclosures, Miami Rentals, Miami luxury foreclosures, Miami Condo foreclosures. Search the Local MLS for Hundreds of Miami Homes and Miami Real Estate. Please contact us for a list Miami homes.