All Forum Posts by: Uwe S.

Please back to topic.

So this house is to be worth a try or not? On Zillow I saw many price changes for this house an up and down.

-Uwe

... do you saw this custom house with 5,700 sqf on 7 acres in Dallas, GA?
Its listed at eBay and only 2 days left.
"Interior needs finishing, flooring, drywall, etc. Exterior needs stucco repair in some parts of home. Home was in the process of being renovated for a church. Customize home as you like. Make Offer!" seller writes.

He want $250k and there was 2 price offers on eBay for it but not successfully so maybe someone here at BP has interest.

-Uwe

oO I wrote Rehabbers wrong :). Sorry

Welcome Vince to our BP world.
$85k with $1,1k in monthly rents is to high even with the bad roof.
I came out to max. $66k minus the costs of new roof.

This deal is a bad deal in my mind:
1. High Taxes (nearly 2 months rent for tax)
2. High Insurance (1.5 months of rent for this)
3. Old house (see Deborah Gordon statement, welcome Deborah)
4. Why pays an renter $1,1k in rent with a bad roof?

-Uwe

Welcome Jason at our BP world.

First, an investment with only $15k in your area should be almost impossible I guess.
But actual there is a 3 unit ($135k) listed with Fannie Mae in Manchester, NH you should be able to buy this multifamily with only 3% down with owner occupy. So you can start your investment with very low skin in game but note there is some more what you must know in this game.

-Uwe

Welcome Ebe in our BP world,
you right your market is overpriced! You can try to get this house with an lower offer but I guess there is an investor with more money.
In your situation you should look for Fannie, Freddy or HUD homes to get one for an reasonable price to live in with owner occupancy. Maybe there will be a duplex or so, but actual only SFH or Condos and most "under contract" but not all.

-Uwe

Ben,
I calculated 11,1% CAP actual and that is good in my mind all the more with an 2006 house. Concgrats.

-Uwe

Concrats Hendrix, you invest in NY or PA?

-Uwe

This is the right website for you Justin if propertie in Howard County.

-Uwe

Sorry Will, sometimes I'm bluntly yes ;).
If you have no $3 million so start with an little lower investment, there some in your area I guess.

-Uwe

I don't see $3millon as price, no information about pm fee but I see only 69 units not buildings so your calculation is worthless actual.

-Uwe