First Deal - All Help appreciated!
Hey everyone,
I came across an opportunity to purchase a 750 sq foot rental unit . Could someone help me figure out if this is a good deal?
2 bed 1 bad apartment unit with average rent $750-$800
HOA - $90 a month
Taxes - $26 a month
Built in 1960
Similar units at this location sold between $47k- $52K
Owner is asking 55k.
Planning to offer $38k-$40k cash
Any help is appreciated.