Flipper/Rehabber · Greeley, CO · Member since 2013 · 2k+ posts · 1k+ votes
It's been tough going lately finding a good deal but I got one under contract today. It was a fair market sale. Went to highest and best of course after one day on the market. My offer of $133k was accepted, which is higher than my other rentals but this home needs no repairs. 1960's ranch. 4 beds, 2 baths, hardwood floors, new windows, newer kitchen, 2 car garage, newer furnace, newer baths. Should rent for $1,300 to $1,400. Taxes are $658 a year.
I think one of the other offers may have been higher but I had a portfolio loan and I emphasized I would not ask for repairs and my lender has never asked for repairs on any of my properties.
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
12y
@Mark Ferguson ditto! Just put number 7 under contract here in sunny SW Florida. Deals are few and far between. I am paying cash rather than financing. Putting in another contract tomorrow on another one. I think when I get about ten I will probably call it quits. I handle all the management to help cash flow. You must agree that RE is a great investment as well as fun! Playing monopoly with real money and real properties can be very rewarding.
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
12y
@Mark Ferguson ditto! Just put number 7 under contract here in sunny SW Florida. Deals are few and far between. I am paying cash rather than financing. Putting in another contract tomorrow on another one. I think when I get about ten I will probably call it quits. I handle all the management to help cash flow. You must agree that RE is a great investment as well as fun! Playing monopoly with real money and real properties can be very rewarding.
This is my tightest rental yet with payment, taxes and insurance around $700 and rent around $1,300 to $1,4000. I am pretty sure I will get at least $1,400 but I like to be safe.
The reason I went for this one was the home literally needs nothing, but one room might need some paint. I don't have to fix anything, and it can be rented immediately. Market value is probably $150,000 + as-is.