First REI under contract! (Raleigh, NC)
Hey everyone!
Thanks to BP and various books, etc., I have my (hopefully) my first investment property under contract!
It's just a 3/2 1450sqft single family home 30 minutes from Raleigh, NC. Purchase price of the home is ~75K and it needs ~15K worth of renovations/updates (it's mostly cosmetic, but the house is a nicely built brick home that has a new-ish roof and HVAC, so I want to do the cosmetic stuff right the first time!). Hoping to be in ~95K on the property in the end and rent it for about $1100/month.
I found the property on Trulia, and the sale method was an auction site: Hubzu.com.. if anyone has any questions about those things I'd be glad to answer them!
I was wondering if anyone had any advice about the renovations..finding a renter, and mostly, going forward with refinancing/looking for more properties. Thanks so much!