Good deal?

General Real Estate Investing
1

Would you guys pull the trigger on this deal?
Sale price 21k
taxes 1600 per year or 134 per month
Insurance 30-40 per month
Needs 3-5k total fix up or can be rented with just a minor clean up 1k
After value is 50k
Rents for 650 per month

2

forgot to add 65 per month property management
Thanks for the input

3

If this was in my area, I would have already bought it. This one is a keeper!

Mike

4

Hi Mike thanks for the input, I just found out about it last night. Would you rent it or fix and sell?
Thanks

5

I would rent it, but I’m in the rental business. I would also manage it myself.

Mike

6

how did you come across that deal?

7

I made some good contacts with local investors that have good contacts with the banks and they get contacted by banks when a forclosure comes up. Instead of fixing he just does a quick turn and make a couple thousand so its still a great deal. He contacts me to see if I am interested in purchasing. I guess you could say hes a bird dog

8

If you are in the business of renting out properties go for it. Without knowing everything about it the numbers look good to me.

You may also want to look into wholesaling the deal if you are not sure what to do with it.

Either way you have a good deal on your hands.

9

thanks I intend tp rent it.