Good deal?

General Real Estate Investing
1

Asking price is 55k (Im sure can get it for a little less). ARV is 99k. Based on comps, lowest sell in the area is 75k. Needs ~12k in repairs. Area is really good but most of the houses around it arent in great shape. Would you buy?

Thanks,

Nick

2

Just make sure you include all aspects in your expenses like:

  1. How long will the house have to sit before it sells. If it’s 3 months that 3 months worth of payments.

  2. Are you going to use an agent to sell? What is the commission?

  3. Taxes at settlement or other closing costs.

I think after you do this, you will be a “real” number.