Updated almost 16 years ago on . Most recent reply
Here's my deal(s)
Hey guys here are my first two deals that are set to close at the end of this month.
Deal 1: HUD property (2/1 SFR) purchased for $14K. Rehab estimate is $7.5K. Should rent for $550/mo. Home sold in 2006 for $49K.
Deal 2: REO (3bed 3 full bath) purchased for $27K. Rehab cost is about $1,500 (seriously only needs paint and maybe carpet). Should rent for $750/mo. Comps in the area put the house value around $70K.
I'm closing both deals with cash. I feel like I got a really good deal on both of them. I had home inspections done on both of them as well as pest inspections just for my own peace of mind and neither turned up any surprises.
So did I get a good deal?