Posted by Nick on July 23, 2001 at 11:07:43:
Mike,
Before you can decide if it is a good deal or not. You need to know a few more things.
- What are the rents now?
- Electricity?
- Water?
- Sewer?
- Vacancy?
- Taxes?
- Insurance?
If you can get the 10K for rents and the Mortgage is @400K that does leave a lot of room to have positive cash flow. Just get all the numbers and see what happens.
Add up all the rents and subtract all the expenses, including mortgage payment, if there is money left over that is a good thing.
Good Luck
Nick