Potential first deal

[Jonah Slove]

Hi all,

Curious people's thoughts in this deal. I am OOS looking to invest in an area like Detroit and start with a SFH. This is ready to rent and I have spoke with PM and rent is realistic. Not quite a BRRRR as more of a long term play I think given im not really forcing any equity, but cash flow positive and high ROI..I got my pre-approval letter and ready to get started.

[Jonah Slove]

Quote from @Scott E.:

Numbers look good, but there is much more to a deal than just the numbers. A couple other things to consider...

-How old is the property?

-What is the age of the big ticket items? (roof, HVAC, elec panel, sewer pipe)

-Is this an A, B, C, or D neighborhood?

These factors will help you understand what your cap ex expenses will be, and what your appreciation rate might be.

 Thanks for the reply. Ya totally, I have some additional info but as I am OOT I will be relying on Realtor and others to help identify other issues;

Built in 1953

Newer roof, not sure about the others

C+/B-