Buying the right home for rent
A saw a house yesterday that was almost perfect for renting. They were asking 110,000. Somebody bought it in January for 94,000. They were not flippers (according to the realtor) because they didn't add anything new to the home.Somebody said they had to move. I hesitated to put an offer on the house because I realized they want more money for what they had paid.The house was in perfect condition. So I decided to wait and do more research on appraisals. Of course somebody put an offer last night and now the house is under contract. So I lost. I was the first to see it. Anyways my question is if you see that a house is perfect (almost) and no major repairs are required, should I paid the amount the owners are asking even tho the other houses around sold for 10,000 dollar and less? Am I being so meticulous or an over thinker? Thank you for your reply.