Flipping townhouse

8 Replies

I am flipping single family houses and now decided to buy one cheap townhouse to make money on renting it out because i do not think i can sell it back with any profit. I am buying it for 22k plus put in about 3k in remodel. I hope i can rent it for 800 a month. Any advises on that?

Is it apart of a HOA? If it is be sure to account for how that will impact your monthly numbers.

On the surface a 25k all-in renting at $800 per month sounds like a good deal though.  Are you confident in your rent comps at the $800/mo?

Hi Vera,

If there is a (HOA) review the restrictions/requirements and find out if renting is allowed.

as long as the association fee does not hurt you this is a good deal.   Definately a keeper in my market!

Originally posted by @Michael Noto:

Is it apart of a HOA? If it is be sure to account for how that will impact your monthly numbers.

On the surface a 25k all-in renting at $800 per month sounds like a good deal though.  Are you confident in your rent comps at the $800/mo?

No any fees. No HOA. Is personal property.

Originally posted by @Tom Reynolds:

Hi Vera,

If there is a (HOA) review the restrictions/requirements and find out if renting is allowed.

 No any restrictions on renting property.

Originally posted by @Michael Noto:

 Are you confident in your rent comps at the $800/mo?

Iam not sure I checked in rentometer.com. recomended renting price was $790 or less. May be I must make it $750

Screen your tenants really well. Better to have a fabulous tenant paying $750 than a problem tenant paying $800. Congrats, sounds like a great deal!

Originally posted by @Judy Rodriguez:

Screen your tenants really well. Better to have a fabulous tenant paying $750 than a problem tenant paying $800. Congrats, sounds like a great deal!

 Do you think as less payment as better tenants I may get?

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