Updated over 7 years ago on . Most recent reply
Found a Deal. Is it good?
Hi Bp- Curious to see what you guys think about this deal. Any insight would be greatly appreciated. Property is out of state so very unlikely I will actually jump on this deal, being it would be my first deal and its out of state. Justing looking for some quick insight.
Property selling off market for 58,000$ (Paid in Cash)
House is in great shape, owner told me he put in 37,000$ into a remodel within the last 2 years. Photos appear that the house needs very little if not nothing done to it rehab wise.
Rent is in section 8 housing and rent comes in on the 1st every month Rent: 700$
House has passed all government paperwork to be section 8 compliant.
yearly insurance is 345$
would need to use property management company to manage the property.
utilities are paid for by the tenant.
Does this add up?
Most Popular Reply
This is not enough information to give you any real advice or insight.
What's the ARV? Would you be paying cash or using financing?
Don't forget about your other expenses besides property management too.
CapEx, Maintenance, Vacancy, etc.