Looking for insight on this deal for a rental

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Joe HammelBusiness Member
Real Estate Agent · Metro Detroit, MI · Member since 2018 · 612 posts · 666 votes
5y

@Paul Bird 

Looks pretty Good. Are you comfortable with the location? Price point reflects C, C- in our local market... 

Confident in rent comps?

Just things to think about! Checks out as a good one to add to your portfolio. Especially if you're able to finance that low. 

[email protected]248-422-1685
FIRE Realty Team - Keller Williams5377 Reviews
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2Reply
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  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 657 votes
    5y

    Overall, it looks good. I would change vacancy to 8% instead of 5%

    Accounting Properties LLC
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    1Reply
  • Paul BirdPro Member
    OP
    Investor · Upland, CA · Member since 2020 · 18 posts · 3 votes
    5y

    @Simon W. Thanks for the insight

    [email protected]
    0Reply
  • Anthony O. Porter
    Rental Property Investor · Atlanta, GA · Member since 2018 · 48 posts · 24 votes
    5y

    @Paul Bird - It looks good but as Simon W had said,  change the vancancy to 10% especially if it is not presently occupied.

    Anthony O. Porter

    Porter's Property, LLC

    2Reply
  • Paul BirdPro Member
    OP
    Investor · Upland, CA · Member since 2020 · 18 posts · 3 votes
    5y

    @Anthony O. Porter Thanks Anthony, I re-did the analysis to up the vacancy.

    [email protected]
    1Reply
  • Matthew M.
    Los Angeles, CA · Member since 2018 · 86 posts · 86 votes
    5y

    @Paul Bird just curious, but have you actually gotten a lender to give you such a small investment loan at that rate? I generally can’t find anything for less than 75k, and rates are pretty high for such small loan sizes.

    1Reply
  • Joe HammelBusiness Member
    Real Estate Agent · Metro Detroit, MI · Member since 2018 · 612 posts · 666 votes
    5y

    @Paul Bird 

    Looks pretty Good. Are you comfortable with the location? Price point reflects C, C- in our local market... 

    Confident in rent comps?

    Just things to think about! Checks out as a good one to add to your portfolio. Especially if you're able to finance that low. 

    [email protected]248-422-1685
    FIRE Realty Team - Keller Williams5377 Reviews
    WebsiteView Page
    2Reply
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