My first deal March 2013 (with pic)
This was my first ever deal, and I did a lot of the work myself. I lived in it until Sept 2014.
3/2 1200 sqft
Currently I rent it out for 1300$, property taxes about $2000, insurance $750, tenant pays utilities.
Short sale purchase price $70,100.00
Rehab cost $30,000.00 ( 22,000.00 initially, the rest over the course of the one year)
ARV $130,000.00
I will either refinance to move on the next acquisition, or will exchange it for an apartment building later.
I would appreciate your thoughts.
Thank you!