Rental Properties...how to determine what to pay
I need help figuring out a good price to pay for a property that doesn't need any repairs or updates. Its estimated value is 190k. The owner has about 18k equity with a mortgage balance of about 173k. Projected monthly rent is $1,387. It is a FSBO property so I want to know what I can offer her that would be a good price for her but also low enough so I can wholesale it to an end buyer.
If you can provide details it would be great because I need to know how to run numbers on rental and/or turnkey properties.
Thank you in advance!!
Most Popular Reply
@Amanda Glenn, this doesn't look like a good candidate for wholesaling. There's basically no spread. Move on.