I’m an ardent reader/follower of the forums. I am also new to the REI business, and ready to take the plunge.
My partner and I are currently looking at a couple property’s, and will make an offer Wednesday evening. We have some numbers, and are stuck on what to do next. Below is the information, and I’m asking for your input. Pls Help.
865 sq.ft, 2 beds, 1 bath, dining area in living room, laundry room, enclosed backyard.
Rental income $400/month
HOA fees $72/month covering lawn and garden care, roof care, trees trim, garbage on streets, basic external maintenance
1300 sq.ft, 3 beds, 1.5 bath, dining room, laundry room, dishwasher in kitchen, enclosed backyard.
Rental income $630/month.
HOA fees $72/month covering lawn and garden care, roof care, trees trim, garbage on streets, basic external maintenance.
Combined income of 1030. (price will be reduced further if we do a combo deal)
third property is already fixed up, seller is working with a Realtor[b][b][b][b][/b][/b][/b][/b] on this one, 3b/1.5baths, with everything new in the house, property is for sale for $119,900 which we can be reduced if we do a combo deal from us (i.e including all three properties). Rental income from this one was at $775/month and now with all updates, we could easily get $850/month.
PS: We are wholesalers, currently working on building earned income. Any creative financing ideas to incorporate?