Updated almost 10 years ago on . Most recent reply
Foreclosure okay for first deal?
hello all,
I have found a decent single family home in the town next to min . Recently for closed on and they are wanting 22k for it. Its completely fenced in, detached garage, roof looks to be in good shape. Similar houses near it and around it generally sell for around 50k-70k. Rent comps nearby have an average of 600-750. Its in a bit of rough shape, needing some dry wall replacement, paint carpet and etc, I have done what I think is the correct math and it comes out to a steal. The numbers I have ran are relatively good number . I don't know if I am maybe coming at it the wrong angle or if it really can be this nic . I plan to buy and hold and over time I may sell it. Please leave any thoughts or comments below.