Question Details

Yaseen Sadaat, Home Buyer in West Valley, San Jose,...

I am looking for an Income property in Cupertino. But price is such that instead of income

Asked by Yaseen Sadaat, West Valley, San Jose, CA Mon Aug 11, 2008

I have to pay from my pocket. Here calculation based on asking price of some multi-family props.
If I talked to the my agent he always say the price is high. But it seems to me that if he lowers the price he will not make good money so he's staying with asking price if not may be couple 'Ten' thousands down but not enough to make the payment ratio even close to 'BreakEven' condition.
I need suggestion say for example a property is asking price is 1500000 total 4 units
current rent is 2000,1600,1400,1400 = 6400
if I pay 20% my loan will be about 1200000 on which as per current rate monthly payment will be about 7800
so it's about 1400 difference.
but if the offer is 1200000 of which 20% down then monthly payment will be 6200~6400.
My agent then he says your offer is funny, will be tossed and so fourth .
What would a reasonable offer ? Can you help me ? your email to greatly appreciated.
Also if posible can you give me idea 2 units asking 1300000

Help the community by answering this question:

Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer