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Updated over 5 years ago on . Most recent reply

David Gamble's profile image
David Gamble's profile image
David Gamble
  • Rental Property Investor
  • from Charlotte, NC
  • Member since Oct 14, 2018
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David Gamble's profile image
David Gamble's profile image
David Gamble
  • Rental Property Investor
  • from Charlotte, NC
  • Member since Oct 14, 2018
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David Gamble
  • Rental Property Investor
  • Charlotte, NC
6
Votes |
37
Posts
Buying & Selling Real Estate

Deal or No Deal in the Charlotte Area

David Gamble
  • Rental Property Investor
  • Charlotte, NC
Posted

I have a potential Seller fiance deal 

Property ARV: 200,000

Asking Price: 135,000

Down payment :25,000

Repairs: 25,000

Rents in the area: 1200

Monthly payments: 501 (Principal only payments for 3 years)

Payments won't exceed 501  

Potential Cash flow:699

Is this a good deal? 

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Mike Dymski
  • #5 Investor Mindset Contributor
  • Investor
  • from Greenville, SC
  • Member since Mar 10, 2016
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Mike Dymski's profile image
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Mike Dymski
  • #5 Investor Mindset Contributor
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  • from Greenville, SC
  • Member since Mar 10, 2016
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Mike Dymski
#5 Investor Mindset Contributor
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  • Greenville, SC
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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Replied

Flip it.  $1,200 rent at $200,000 value won't make a good rental, unless it has a lot of predictable future appreciation.

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