Updated over 5 years ago on . Most recent reply
Please evaluate my deal before I close
Evaluate my deal. Haven’t closed yet. Covet your thoughts.
https://www.zillow.com/homedet...
Purchase 105k
Downpayment 25%
Interest rate 4.2%
Initial repairs/updates 5k
Will need new AC and roof within 5 yrs
Rent 1100-1200 (sought after school district)
Most Popular Reply
@Jeff Brotherton, what drove the cost above asking? What are you basing your potential rent on? From the information on Zillow, it was listed for rent back in October for $1075 and didn't rent. Do you know why it didn't rent? Is there some change in the area that you feel has driven rent prices up to almost $1200. Is there an HOA fee associated with the property? How do you plan on tackling the cost associated with the roof and A/C? Those things never last as long as you think. I spent over $30k in new roofs last year. So make sure you have a plan for what could be $8000-10000 worth of repairs.