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Updated over 6 years ago on . Most recent reply

Amanda Glenn's profile image
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Amanda Glenn
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  • from Richmond, Virginia
  • Member since May 21, 2018
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Amanda Glenn's profile image
Amanda Glenn's profile image
Amanda Glenn
  • Specialist
  • from Richmond, Virginia
  • Member since May 21, 2018
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Amanda Glenn
  • Specialist
  • Richmond, VA
1
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19
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General Landlording & Rental Properties

Rental Properties...how to determine what to pay

Amanda Glenn
  • Specialist
  • Richmond, VA
Posted

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!!

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Jaysen Medhurst's profile image
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Jaysen Medhurst
  • Rental Property Investor
  • from Greenwich, CT
  • Member since Aug 18, 2015
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Jaysen Medhurst's profile image
Jaysen Medhurst's profile image
Jaysen Medhurst
  • Rental Property Investor
  • from Greenwich, CT
  • Member since Aug 18, 2015
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
Replied

@Amanda Glenn, this doesn't look like a good candidate for wholesaling. There's basically no spread. Move on.

  • Jaysen Medhurst
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