Two for one homes twice the head ache
I have an opportunity to buy 2 homes for the live of ONE!! Woohoo... heres the catch
Home A:
$50/60k purchase
$50k repairs
ARV:$135k
Rent $1250
( this home is owner financed to a guy who’s always late and behind on taxes!) so in essence I’m buying a note
Home B:
$50-75k
$50k repairs
ARV $150k
Rent $1400
This home had a bad tenant with no contact and only payed one month of rent now... won’t leave!
home A: will cash flow (if he pays) $700 that’s my part after him paying taxes insurance ....with me risking eviction eventually...
Home B renter has to be evicted... with all this covid stuff and no contract I’m concerned he has the upper hand and I’ll be paying for it...
Is the upside worth the head ache!