Deal analysis good or bad?
Hey all looking for some help and any feedback is appreciated.
I’m looking at a single family for for 75k.
Market value is estimated 69/70k ( my market is hot)
Rent for the home is approx 950-1000 per month.
My realtor suggested the following as an offer. ( 5k appraisal guarantee if the house doesn’t appraise at asking , cover the sellers closing cost up to $2500) to get our offer accepted. The home was on the market for 2 days and has 12 offers. My closing cost is around 9k. All in I would be close to $17.5. Is this deal still worth it ? I think I know the answer but I wanted to see what other investors think. Thanks again!