Updated almost 6 years ago on . Most recent reply
Single family home in forclosure, 125k with 40k in repair.
Am contemplating placing a bid for a foreclosure single family home. It needs complete rehab, about 40k and the home price is 125k. It has 4 bedrooms and 2 1/2 bath. One room could be turned into 2 and its a walk away from a park that also has a jogging trail and lake and 3 min from highway. The neighborhood is quiet, middle class but about a mile away it's a little more hectic and I would assume the crime rate is a bit higher. I plan to use it as an investment property. Tax is about 8k and rent cost in the area is about 1300 for a 2 bedroom.
In anyone's opinion, would this be good investment?
Most Popular Reply
Well, you've posted rent for a 2br, but this is a four- maybe five as you've mentioned. What would it rent for? You need apples to apples comps. What is your goal with this property and investing in general?
- Corby Goade