Made my first offer!
Hey BP nation!
I just made an offer on my first investment property! It is an 846 sq ft 2/1,could be 3/1 (has an added on room in the back) in an older mill village. The list price is $25K and comparable properties in this neighborhood usually sell for 50-80K. It needs a total rehab, which I will do mostly myself (I have a construction background with plenty of connections) and I estimate that it will be worth 55-65K once fully renovated. Rents in this neighborhood go from $500mo- $750mo if I choose to hold and lease. What do you think? Feedback Greatly appreciated!