Single family in Bloomington IL
Hello All,
First time here!. I have a lead for a single family 1100 sq ft 3 bed 2 bath 2 car garage for 110K which is being sold as is with original roof. The comps are 125 to 140K (more square footage). Has rental potential of $1200. There is some work needed to upgrade appliances, flooring and some windows. The property has been unoccupied for a long time. I am contemplating whether to go ahead with 25% down only if inspection doesn't find anything major..I am new investor and worried that I maybe overlooking anything that is obvious. Thanks for your suggestions in advance.
First time here!. I have a lead for a single family 1100 sq ft 3 bed 2 bath 2 car garage for 110K which is being sold as is with original roof. The comps are 125 to 140K (more square footage). Has rental potential of $1200. There is some work needed to upgrade appliances, flooring and some windows. The property has been unoccupied for a long time. I am contemplating whether to go ahead with 25% down only if inspection doesn't find anything major..I am new investor and worried that I maybe overlooking anything that is obvious. Thanks for your suggestions in advance.