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Updated over 1 year ago on . Most recent reply

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16
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5
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Sandy Sandy
5
Votes |
16
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Help with deal analysis

Sandy Sandy
Posted

Hi! I’m a newbe here. Need some views on this deal I’m interested in. This is my first one which I’m planning to put an offer on.

Asking price:135k

Gross annual income: 29500

Taxes:4500

Units: 4 (fully rented-all studios 2 units with long term lease and 2 month to month. Separate utilities)

Property management:10%

Roof: 2012

House needs minor repairs and Neighborhood is no so good.

Asking price seems over asking when compared to the similar properties in the areas.

Questions: 1. Looking at the numbers , what do u think? 2. what are the risks involved in buying in no so good neighborhood?

Any views on this would really be helpful. Thanks in advance!

Most Popular Reply

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5,101
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Nicholas L.
#1 Starting Out Contributor
  • Flipper/Rehabber
  • Pittsburgh
4,081
Votes |
5,101
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Nicholas L.
#1 Starting Out Contributor
  • Flipper/Rehabber
  • Pittsburgh
Replied

OK - it will likely cashflow, but I am assuming that, based on the purchase price, it is in a challenging area, and may be a very demanding property for a first time investor.

  • Nicholas L.
  • Loading replies...