New to Real Estate · San Francisco, CA · Member since 2020 · 44 posts · 25 votes
Anyone that lives in the Bay Area or have had past experience investing in SFRs in Fairfield, CA? I did a BRRRR analysis on a 3 bed 2 bath 1200 sqft property and I am curious to see your thoughts on the numbers I ran.
Originally the asking purchase price is $200,000 but it has been vacant and on the market for over 700 days according to Zillow. Property also needs major repairs so I started out the analysis with a $100,000 purchase price.
This property use to be a probate sale + over priced for the longest time. Recently it came back on the market with this new price, not sure how much repair work is needed but Im sure its substantial given the asking price. The second story was added to the building and not sure if thats an issue, but I think repair costs might be more than what you estimate. But IF you can get it at $100k (dont think you will but who knows if you dont ask) then there might be room to make good money because ARV would easily be $350K-$370K, even for that neighborhood. I thought about that property too but not knowing what the repair costs are have kept me away.