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Updated over 7 years ago on . Most recent reply

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30
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8
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Rashad Colton
  • Atlanta, GA
8
Votes |
30
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found a potential property- need help

Rashad Colton
  • Atlanta, GA
Posted

so i've found a potential first rental property price is 59k in ga. 

  • Price: $59000
  • Estimated Fair Market Rent: $900
  • Estimated Annual Property Taxes/Fees: $1250
  • Estimated Annual Property Insurance: $980

arvs in the area is 85k-95k. Also the property needs Needs: Siding repair, gutter repair, exterior and interior paint, garage door repair,  flooring, kitchen appliances, other minor repairs.

I have about 6500 cash right now, should i look for HML that may work with me? should i save more before investing?

looking for rental 

Most Popular Reply

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3,177
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1,999
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Christopher Phillips
  • Real Estate Agent
  • Garden City, NY
1,999
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3,177
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Christopher Phillips
  • Real Estate Agent
  • Garden City, NY
Replied

Rashad Colton

You can try hard money, but you’ll need to shop around because most won’t do less than $100k

You might be better off with finding an investment partner with the cash.

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