What to do w/ my SoCal deal
Riverside, 92551
SFH 950 Sq Ft, 2/1 ba
ARVs $95k
Purchase price $63.4
Needs $6k in repairs, house is okay, just needs cosmetic updating
Rents $900-1150, good area, near hospitals, military installation, community college, freeways, good schools, parks, shopping
Analysis: $5.4k/$63.4+ 6k= 7.7% CAP
There's a 2 car attached garage so I could possible add on and sell as a 3br/2b. Homes of that size in the area are selling for 115k conservative.
I'm flying to the area next week to check out potential investment properties. Is this something I should be interested in? What else should I look at?