All Forum Posts by: Chris Atteberry

@Drew Sygit Thanks for the insight, that was my thinking initially also. The property is marketed to investors but I don't know any investor that wants to enter a deal knowing they are out money from the get go. I am not sure what the current lease agreement states but for sure something I want to find out when my agent is back in town next week. 

@Benjamin Aaker Not too sure about what needs to be done, from the pictures it looks like to get it to my rental standards some cosmetic stuff but nothing major, but other than driving by I have not seen it in person. I could take the hit for 6 months as long as nothing major goes wrong and really puts me in the hole but not sure that is a chance I want to take if the current occupants know that the rent is going up or they will have to move. I dont want them to "make" something go wrong. Not saying they would but never know.  

@Marshall Leipprandt that makes sense, I am going to keep an eye on it. If it didn't already have renters in there paying 600 a month and the owner pays all utilities I would be all over the property, but based on my calculations on the low side of utilities my cost would be about 650 a month. Not worth it to me to purchase a property and take a loss every month for the next year. 

There is a home listed for 79k and it has a renter already in place with a one year lease. The current lease is for 600 a month and the property owner pays all utilities. By my calculations you are in the hole before you even start the month at that list price. Current rent in the area is about 900 a month for comparable properties I feel like 79k for the house is a good price but not with the current lease that is in place. Any advice? Thinking of throwing out an offer that makes sense with a 600 a month lease of about 50k.