All Forum Posts by: Devante Henry

Assuming your numbers are accurate, this deal has about $25k worth of profit in it after accounting for commissions, closing costs, holding costs, staging, etc.

So to answer your question, yes this deal would offer a good ROI but again only IF your numbers are accurate.

Make sure you're also accounting for holding costs, closing costs, commissions, interest/financing charges, etc.

@Devante Henry

If numbers are real then it would not be a bad deal. How did you come up with those numbers and did you physically walk the inside of property and do your own estimate for repairs. $8-$10k doesn’t get you far nowadays

Start here first:  https://www.realtor.com/reales...

This will give you the overall market stats as well as properties listed for sale. Specifically: "In April 2022, the median listing home price in Fort Lauderdale, FL was $575K, trending up 16.2% year-over-year. The median listing home price per square foot was $416. The median home sold price was $455K." (End). There are homes in the mid-$300s that would be considered starter and studio condos and apartments in the $200k range - but watch out for the HOA fees.

Florida is one of the hottest housing states in the US so there are no deals, no steals. Property appreciation in my market exceeds 25% and rental price appreciation is even higher - up to 38% in urban markets.

Hope this helps to get you started...