1st Investment Property | Deal or No Deal?? | BRRRR
Hello BP Community,
I've found an off-market deal for my 1st investment property. I need your help analyzing this deal. I will be looking to BRRRR. (SFH, 3BR, 2BA, 1541 sq ft)
I've done a walkthrough of the property and it needs a full rehab. That includes: bathrooms, kitchen, flooring, paint, misc. The roof is new, hot water heater looks okay, AC unit seems to have some age, the electrical panel is labeled (so I think that's good). Home was built in 1988 and hasn't been updated. The owner says he owes 82k and would just need to be able to walk away from it. Below are some numbers.
- 82k = purchase price
- 30k = rehab
- 04k = closing costs
- 116k = total project cost
- 130k = ARV
- 52k = total cash needed at closing
Please see the link to the deal analysis for full details. I'm looking to see if I should pull the trigger on this one. It's close to a really good school zone and like 1 street away from shopping, groceries, fast food, etc.
*This link comes directly from our calculators, based on information input by the member who posted.