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Real Estate Deal Analysis & Advice

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Kevin Tran
  • Fort Worth, TX
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59
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6 months deal, closed yesterday

Kevin Tran
  • Fort Worth, TX
Posted Dec 16 2014, 08:55

Got the keys yesterday on a 600k IRS tax complication.  Parents owed 600k to the IRS, passed the house to daughter.  Negotiated for a reduce payoff with IRS using her own lawyer.  Submitted my offer 6 months ago and stayed with it while others giving up.  Here is the numbers, not a home run but still a winner nonetheless.

4bd 2bd SFR 1750 sqft

Purchase price:  75k cash

Repair: 5k (I do all the work)

ARV: 95k

Closing cost: 600

Rent: 1000 (possibly 1100 after repair)

Looking at Line of credit to get cash out for the next deal

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