Updated almost 6 years ago on . Most recent reply
Accept or Pass on a deal for rental purposes advice!
Hello all! I’m looking for opinions on an investment property that I’m trying to get.
The property is habitable and fully rented with a solid rent roll of 29k/year, the current owner is selling it to me for 190k which is 25k below his original asking price...currently its the only property at that price in that location similar units sell for 219-235k. He is selling it to me “as is” and wont do any repairs if my inspector finds any problems. Is it smart to move forward on this deal or better walk away?
Thnx
Most Popular Reply
@Moises Ulloa, are there any issues with the property? Assuming no major issues, using the 50% rule I would think this property would cash flow (assuming the rental numbers are correct).