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Updated about 6 years ago on . Most recent reply

Bret Treadway's profile image
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Bret Treadway
  • from Beaumont, TX
  • Member since May 19, 2019
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Bret Treadway's profile image
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Bret Treadway
  • from Beaumont, TX
  • Member since May 19, 2019
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Bret Treadway
  • Beaumont, TX
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Starting Out

My first Rental property deal

Bret Treadway
  • Beaumont, TX
Posted

I have a home in Houston, Tx that a landlord had up for sale. He will sale the property for 84k to me. The appraisal says it’s worth 121k. With this being my first rental property, I’m pretty hesitant. On paper it looks like a great deal. And there’s already a long term renter in the home.

Thoughts?

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Jason D.'s profile image
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Jason D.
  • Rental Property Investor
  • from St. Petersburg, Fl
  • Member since May 8, 2017
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Jason D.
  • Rental Property Investor
  • from St. Petersburg, Fl
  • Member since May 8, 2017
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Jason D.
  • Rental Property Investor
  • St. Petersburg, Fl
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Jason D.
  • Rental Property Investor
  • St. Petersburg, Fl
Replied

@Bret Treadway my first thought is why is this person adding you $40k in equity?

What is the tenant paying in rent?

What is the deferred maintenance?

Why is he selling this property?

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