[Calc Review] This Deal looks SOLID, but you decide!

[Adam Scheetz]

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Quick Synopsis in addition to the linked report.

1. SFH. 3/2. 1388 sq.ft. Great community. Good clean neighborhood. REO.
2. Asking $89,000
3. Rent $1600-1700
4. ARV: $195,000- $210,000 Conservative Estimate.
5. Estimated Rehab: $50,000
6. Taxes: $5150
7. Insurance: Conservatively-$125/mth
8. Built in 1995 so E&P are solid. 
9. Needs rehab, not a full gut, but moderate rehab to Drywall, floors, kitchen and possibly bathrooms also.
10. Nice neighborhood plot, middle income area, well kept homes

I'm looking at a renovation loan through an experienced and trusted lender who is very familiar with 203k/FNMA Home Style Renovation/Etc loans.

This area is expected to appreciate someone in the ball park of 4-7% this year with the influx of some new job growth drivers and attractions that are bringing people in. 

Please let me know what you think.

[Dennis M.]

@Adam Scheetz

90k plus 50k rehab plus 3-4K closing puts you at 145k

And getting only 1600 in rent with really high taxes over 5k . Doesn’t sound too exciting to me . If your rehab was like 20-30k it would be a whole lot better . Doesn’t look to be a smoking deal at all ,I’d pass .