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Updated over 4 years ago on . Most recent reply

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Artem Shum
8
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218
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90 Days Challenge. Day 55 Please help me to analyze this property

Artem Shum
Posted

Hello

I am new to REI and I am trying to learn how to find the best deal in the market. This deal is located in NW Indiana numbers are roughly estimated, I am planning to buy my first rental property with FHA loan, live there for one year, then move out and rent it out, Screen shot and Link to the file are attached below. I appreciate any feedback.

Thank you

https://docs.google.com/spread...

Most Popular Reply

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24
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18
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Brice Bishop
  • Flipper/Rehabber
18
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24
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Brice Bishop
  • Flipper/Rehabber
Replied

The rent figure looks fine after looking on craigslist and zillow (coming from someone not super familiar with the area, double check school zoning difference in rents). I would make sure to get quotes on insurance and property management. Possibly bump up capex % depending on how old everything is. Double check the street its on isn't super busy. Make sure the property doesn't back up to a gas station or other undesirable commercial property. Check to see if there are any vacant or abandoned homes on that street. All in all looks like a solid deal from a quick and dirty numbers stand point.

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