Good find or Bad find?

Question

Hello all,

Let me start off with that I have read most of the starter books given and have now begun to try and find deals within my hometown of Fresno, Ca. Please note that I am currently overseas and am doing all of this via electronic.

Please comment on things I should be looking out for or anything I am not taking into account. If this is a good deal I do not mind someone else taking it. I am doing it purely for research. Numbers look good on my end BUT I do not know any subtle things that I might be excluding or completely missing in my data.

Information:Link to Subject House

PDF:

Link to PDF Analyses

Tax Parcel:

Closest unit too picture shown -- 1500 (blank) villa clovis

Problems:

A/C doesn't work, Bare Bones type of MFD,Pros:?Can rent out for around 900 a month? -- Cheap to buy 9k/throw 15k into getting her fixed and ready for renting?

All help appreciated, thanks!

Andrew K. · Answer

@Brent CoombsI will be looking into Villa Expenses. How would I find vacancy statistics?As far as I could see it is around 900 in that area.Most SFH and Multi's are 1-2k easily in that area. Expensive growing agriculture is what is around it.Thanks for asking questions that I should be asking!

Brent Coombs · Answer

Have you accounted sufficiently for monthly Villa expenses? Do you know the vacancy statistics?

And are they REALLY getting $900/m gross rent? (Sorry, I don't know the answers). Good luck...

Andrew K. · Answer

Gotcha, Thanks!

Jason Clark · Answer

Hi Andrew, my mistake, you're right I didn't notice the PDF was from the calculator. I can't offer any specifics but it seems you're doing your homework, keep it up. Although there is always the adage of when things are too good to be true that they usually are. Good luck!

Andrew K. · Answer

@Jason Clark I have thrown in all the data I could think of and even gave the link to it in the original post. I don't understand the information, to me this seems way to good to be true or I am forgetting a ton of expenses.Also I have been reading through the ways of gaining funding, would I include the repair cost in that loan or would that be cash I have saved up to use?

Jason Clark · Answer

The BP calculators are pretty great, they don't miss anything IMO other than the x-factor, tenants. Put all the numbers in the Calculator and you're 99% ahead of most other investors. Good luck!

Andrew K. · Answer

Correct, I don't actually care to buy it. Trying to figure out if I am finding decent deals or not within my calculations or if I am missing data that could cost me.

Craig Pfeifer · Answer

Looks like it's pending already.