I am thinking of buying a rental property 20,000 cash will rent for 590.00 . I am not sure of the value but it is being taxed on 83,000 which I am sure is not right. All it needs is painting and carpet cleanning. Is this a good deal?
Yes, it’s a very good deal from a numbers standpoint. In addition to that, you need to understand the neighborhood (warzone, major employer getting ready to shut down, etc) and do the rest of the due diligence.
Good Luck,
Mike
Thankyou, that is what I was hoping for. This is not the best neiborhood but not the worst either so I am just hoping to get some good renters. Thanks :beer