property w/rental potential

Rehabbing, Fix and Flip, Rental Properties
1

Hello forum,
I need your expert advice on the following situation:

-property for sale: 200k
-comps approx. 215k
-located near military base in the state of maryland
-seller very desperate to sale

???
-how can I get financing for this w/o using conventional loans through a bank? Are there HMLs that fund rental deals? If so, please recommend a HML.

-how much should I be asking for rent? (min. to max range)

If there are additional things I should consider, I’m open to suggestions.
Thank you,
T. :slight_smile:

2

You probably can’t afford/won’t cashflow with a long-term HML…they are high interest, usually short term loans.

Keith

3

“deseparate” seller asking basically full market value.??? A motivated seller woudl be asking $175k

regardless of the price, unless you can get close to $2000 per month in rent (which I highly doubt), you will be losing money every month you rent it.

as for asking for rent, you ask what the market will bear so do your homework.