Seller financed deal in Missouri
DETAILS:
3 bed, 1 Bath, 1,345 Sq Ft
Seller-Financed @ 0% interest
ARV: $125,000
Price: $ 4,750
Monthly Payment: $177
Repair estimate: $50k
Down: $0
Market Rent: $975
Assignment Fee: $9,800
Photos:
I'm calculating this as 14.84% ROI, am I right ($9,576 / $64,550)? If the market rent of $975/month is accurate, then $975 - $177 = $798 monthly cash flow. If you had $64,550 cash on hand, would you purchase this, assuming the numbers are accurate, without a team onsite if this is out-of-state? What about if you had a good PM in the area? Seems like there is plenty of equity in it, but I'd imagine you would have to do your due diligence of the area (i.e. employers in the area, Class A/B/C neighborhood, population trends, etc.) before making a decision.
Would you guys buy this? Under what conditions would you go for it (or not)? Thanks!