Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago on . Most recent reply
Sounds good but is it a good deal?
I am brand new to Investing and this would be my first potential deal.
This house is right next door to my current home and the owner hasn't lived there for 3-4 years. (Lives with her boyfriend) She keeps it maintained and is in good condition. She has the home paid off and has mentioned about wanting to sell before. I want to cash flow this property eIther by lease wIth the ootIon to buy or Long term rent. My deal is as followed:
I would ask to do sellers finance so I could avoid a bank or loan at all.
Offer price - $125k
Repairs - $10k
Mortgage/Tax/Ins. - $675
RAV - at least $160k
Rent - $1400/m
Prices are very reasonable for my area.
Let me know what you think.
Thanks!
Most Popular Reply
Use one of the BP calculators to get a better idea with ALL costs. You need to factor in vacancy, maintenance, CapEx, and other costs.