Offer accepted!
Just received a call from my realtor. The bank accepted my offer. Here are the numbers...
purchase price: $30,000
rehab cost: $7000
monthly rent: $950
ARV: $75000
it's a 5 bedroom, 2 bedroom house. I'm trying to gain a lockhold on all the 4 bathroom houses in my target market. They get rented very quickly, and so I want to drive the price up a bit if I can get a hold of enough of them. Close at the end of July, probably will take me a month or so to do the rehab. I think I'm addicted to this whole real estate thing! :o)
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