Updated 2 days ago on . Most recent reply
Newbie looking for advice
So I have always been interested in getting into investin in real estate and have a possible opportunity I am trying to decide if would be a good investment. So my elderly neighbor passed away who we helped a lot over the years so her sister from out of state said she would sell us the house for a good deal. I've always wanted a rental but also would flip if makes more since. The house is a 3/br 2/ba solid brick house , roof just put on and newer a/c unit. She bought house in 2022 for 239k. The house would likely sell for $280k-$290k in current market and would rent for $1800 per month. The house will need between 10k-20k in repairs/updating to sell for that much. She mentioned 210k which is a fair price but I dont feel leaves much room t be a good deal. Would this buy make sense at 210k? I was thinking of offering maybe between 190-200k with fast close. She lives out of state and doesnt have means to fix up and if she list with realtor she's not going to get much more after fees anyway. Just wondering what is the most i could pay on this for this deal to make sense if she rejects 190-200k?