Current Deal in the works
Hi Everyone,
I have the opportunity to purchase a SFH in Central Texas. I need help in evaluating whether or not this would be worth pursuing as a rental unit. The property is a 3 bd/1.25bath, 890 sq ft. and is currently renting for 700 a month and has a renter. The seller is asking the assessment price of about 50K, ARV would be around 65-70K. I can get regular financing with about 10K for the 20% down. I'm more interested in keeping this as a rental for at least 5 years. The unit comes with a property manager that has a 10% fee. This will be one of my first investments as a REI, so I would like to see what you guys think about it, the sooner the better. Thanks in advance!