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Updated almost 6 years ago on . Most recent reply
Whats really considered a good deal?
When buying a house that you think has more value than what it's selling for, how much % cheaper is ideal for rentals?
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#1 Short-Term & Vacation Rental Discussions Contributor
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- Greer, SC
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#1 Short-Term & Vacation Rental Discussions Contributor
- Investor
- Greer, SC
I like to get a wholesale price if possible and still meet or preferably beet the 2% rule.
I just bought a house inside my ROTH IRA for 12k. I'll put about 35k into it to make it like new. I'll have a house that I have 50K in that is worth around 130K that will rent for 1k a month. That is a no-brainer. I don't have to pull out a calculator to know this is a good deal.
Most of the stuff I buy doesn't require a calculator to absolutely know I have a good deal.
I hang onto cash for these opportunities and move quick when an opportunity presents itself.
I have closed on a house same day I found it because people where literally 24 hours away from losing it.