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Real Estate Deal Analysis & Advice

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Ted Jackson
  • Real Estate Investor
  • Florence, SC
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21
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First rental property purchase!!!

Ted Jackson
  • Real Estate Investor
  • Florence, SC
Posted Apr 10 2015, 14:50

So here's the numbers:

appraised value: $40,000

purchase price: $27,000

monthly rent: $550, (could have gotten $600, rookie mistake)

rehab cost: less than $1,000

dimensions: 2BR, 2Ba, Approx. 1,000 sq feet

The unit is already rented to a tenant who passed screening, and seems great thus far. I purchased it through hudhomestore.com. I paid 20% down and used a credit union to finance remainder on a 15 yr note. So whaddaya think?

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