Hey, guys hope everyone is having a good day. I need some help on an off-market deal I got from a bandit sign.
The home is a 6bd 2.5ba at about 2000sqft.
Gross rents are $500 per room so $3000.
Overall the home is in good condition and just needs a few grand of work.
The guy bought the home and did a lot of work in '12. It was rehabbed then and the basement was also redone and he added 2 legal bedrooms down there.
So the issues I'm having is how the heck do I comp this type of property? I am looking to wholesale it so would a potential landlord want to rent it out per room? The other issues I can see is the fact that he has just a verbal month to month lease. No background checks or anything.
With a bit of work getting the people leased up and such this thing could cashflow really well! Just need some input.
Thanks, BP peeps
@Adam Spencer There are many BP forums for wide variety of subjects. You posted in the Renter's Discussion forum, which isn't the best fit. Many people erroneously post in the Renter's Discussion forum.
Renter's Discussion: "This is the forum for renters who are looking for advice in dealing with their landlord. Ask questions about dealing with landlords, leases, tenant rights and other important issues."
If you re-post in a different forum, you may have better luck!
@Marcia Maynard Thanks for the info didn't realize this is for renters. I'll try posting elsewhere
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