I could scoop up a connected single unit in Sac for under $150K, but it obviously isn't in the best area.
I could buy it for cash and rent for $1,000-$1,300. I have a property management company willing to manage for under $100 per month.
Do these economics fit the bill for a first time property investment for you experienced vets out there? Please chime in with any thoughts or concerns.
Pretty thin. I just bought a $30,000 house that will get $2500 rehab and rent for $650/month. And its in a good neighborhood.
Now with your $150K cash I could buy 5 of my deals and pocket $3,250/month rent
Depends on your area but with taxes, capX, pm etc my initial thoughts think it is a weak deal. Maybe check out some guides on BP to get better idea on what a good deal is or is not.
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