All Forum Posts by: Erika G.

@Geoffrey Hoffman

 We will be financing the deal. 

@Account Closed

Thanks for the advice:) To be honest when I run the numbers there's not much of a return it's basically covering the expenses incurred such as mortgage, taxes and insurance. Now I'm really beginning to double think whether this is a good deal or not. We only have about 20k to work with.

@Geoffrey Hoffman

You're right perhaps they will say no but we're hoping that they will accept it. Than again something tells me that they probably won't accept because I just can't believe that they haven't received low offers from other buyers. 

It would probably rent anywhere from $1,800 - $2,300 a month. I'm not too sure on that I have to call some PM's. The numbers are everywhere on realtor.com and there are not too many rentals available in that community according to the listings on zillow and realtor.com.

@Steve Vaughan

I have looked at rentals in that community and nearby communities through Realtor.com and Zillow and for a house that not nearly as nice as this one they are asking for $1,700 a month. The rents range from $1,700 to $2,500 some even at $5,000 (of course these are waterfront homes). I think that this one could rent for minimum at $2,000. I know that this is very close to covering the mortgage, taxes and insurance but SFH's down here are really expensive unless we go to a not so nice neighborhood which will in turn convert to not well desired tenants.

Thanks for the tip. I will start reaching out to PM's to get a feel of how the rental market is doing in that are.

Hi all. I'm new to this forum and want to hear your expertise. We are trying to buy our first investment deal and we're looking at a SFH in South Florida. This was a flip that sold in April 2013 for $183K, the investors have completely renovated the house they've installed new A/C, new flooring, stainless steel appliances, granite counter, and updated bathrooms.Anyhow, the house has been on the market since Jan 2015 starting at 320K and now it's at 279K. We're looking to buy this house as a rental and according to our realtor when he looked at the comps he said that we should offer 265K.

I was thinking on offering 250K. Does this sound reasonable or is it something that we might not even hear back from the seller since they might think it's low. The house is currently vacant so I know that they want to sell it and it's been on the market for 6 months now. Thank you.