I plan to view 3 properties priced under $290,000 in Canoga Park tomorrow morning. Details will follow on these tear down opportunities ASAP. Until then, keep on looking for investment opportunities and send me any new ideas you have!
Showing posts with label North Hollywood Los Angeles. Show all posts
Showing posts with label North Hollywood Los Angeles. Show all posts
Tuesday, April 22, 2008
Moving Takes Me Away From Blogging
I have not been posting because I just moved into my new 3 bed, 2 bath home in NoHo. Unpacking, setting up my office, and maintaining my duties for my clients has dominated my time. I will be posting again soon.
I plan to view 3 properties priced under $290,000 in Canoga Park tomorrow morning. Details will follow on these tear down opportunities ASAP. Until then, keep on looking for investment opportunities and send me any new ideas you have!
I plan to view 3 properties priced under $290,000 in Canoga Park tomorrow morning. Details will follow on these tear down opportunities ASAP. Until then, keep on looking for investment opportunities and send me any new ideas you have!
Tuesday, April 1, 2008
Turnkey Duplex
11670 Erwin Street, North Hollywood, CA 91606
The Numbers:
-$45,000 down payment (asking $469,000 but should sell for as little as $450,000)
+ $9,000 credit back from purchase
- $3,650 for adding a feature, shade, and painting front patio
= $39,650 total cash outlay
+$2,900 current potential combined rent
-$1982.81 mortgage payment (10% down, interest only, owner occupied @ 5.875%)
= $917.19 profit per month without any work
This property does not have a private feature. It also has a small shared backyard, an unfinished front patio, and a dilapidated common wall. By adding a plug in spa, inexpensive landscaping in the back, and two $299.00 canopies, you will have added large amounts of value for both units in the form of a lush, private spa.
Painting the front patio will add to the curb appeal (the valuable first impression). You should be able to rent both units for $3,450 combined after making these small fixes.
The Final Numbers:
$3,550 combined rent
- 1982.81 mortgage payment
-$562.50 tax payment
= $1,004.69 Profit after all major expenses
This income property is quick, clean, and permitted!
Call me to view this property or similar properties at (818) 726-5982 OR email me at Realtor.MG@gmail.com
To get info on qualifying for a loan on this or other properties, call Katy at (949) 981-2256
To view more properties in any area, go to http://realvana.com to search for free, with no registration required.
If you have a property that you would like me to feature here or if you currently own one that you think needs my advice on how to optimize its income potential, contact me here!
-$45,000 down payment (asking $469,000 but should sell for as little as $450,000)
+ $9,000 credit back from purchase
- $3,650 for adding a feature, shade, and painting front patio
= $39,650 total cash outlay
+$2,900 current potential combined rent
-$1982.81 mortgage payment (10% down, interest only, owner occupied @ 5.875%)
= $917.19 profit per month without any work
Painting the front patio will add to the curb appeal (the valuable first impression). You should be able to rent both units for $3,450 combined after making these small fixes.
The Final Numbers:
$3,550 combined rent
- 1982.81 mortgage payment
-$562.50 tax payment
= $1,004.69 Profit after all major expenses
This income property is quick, clean, and permitted!
Call me to view this property or similar properties at (818) 726-5982 OR email me at Realtor.MG@gmail.com
To get info on qualifying for a loan on this or other properties, call Katy at (949) 981-2256
To view more properties in any area, go to http://realvana.com to search for free, with no registration required.
If you have a property that you would like me to feature here or if you currently own one that you think needs my advice on how to optimize its income potential, contact me here!
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