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Updated over 1 year ago on . Most recent reply
Please help to estimate this deal
Dear Bigger pocket forum,
Can you help to estimate this deal for me.
House location: https://www.redfin.com/TX/Pflugerville/13900-Greinert-Dr-786...
Zillow estimate
https://www.zillow.com/homedetails/14000-The-Lakes-Blvd-UNIT...
My Question is: should I buy this deal? Does this property profitable?
It near the job places so I think It is easy to rent.
Please help.
Thank you
Most Popular Reply
#1 Contractors Contributor
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- West Valley Phoenix
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#1 Contractors Contributor
- Contractor/Investor/Consultant
- West Valley Phoenix
As @Jason Allen said the good old 1% rule is a decent marker, although it may be outdated.
You need to sit and crunch numbers and see if it gives you what you want in a return.
They say monthly rent is $2000. Your payments are $2500 mo (based on their calculations). So you're already down $500. Then subtract expenses, incl CapEx, and all taxes. Seems like youre way uopside down.
Unless you're planning on paying all cash? You didn't say.... We would need a lot more info to have a real opinion for you....