What do you think of this deal?

[Thomas O.]

Hey guys- first original post to the community, there’s a ton of great information on here and I thank all of you for your input and knowledge sharing!

I’m looking at a property built in 2016, current tenant is paying 1950/month. I can purchase for $230k, put 25% down for a mortgage of approximately $1250 for 30 years. It’s a 4/3 2000 sq ft in an up and coming area. The original owners purchased it for $180k in 2016.

The deal seems like a no brainer to me, I’m just a little concerned about talks of a correction and that it’s increased over 25% in 2 years. What do you think? Thanks for the input!!

[John Thedford]

you need to be purchasing at a discount from fair market value