Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on . Most recent reply

User Stats

2
Posts
0
Votes
Marc Von Osinski
  • Newton, NC
0
Votes |
2
Posts

Want to purchase first rental property but have some questions...

Marc Von Osinski
  • Newton, NC
Posted

I've found a 3B 2Ba looks like modular home that's been foreclosed on needs some work and listed on Zillow with an estimate of what they think it'll go for.  Way below market, best I can tell, and guessing on repairs and what local rents are I ran the calculator and came up with some numbers.  Based on my estimates I would need $30K to purchase and fix-up the home financing the purchase price and it would cash flow about $250 after expenses.  How do I even begin the process?  Who do I contact to see about the property and are the Zillow estimates on foreclosures even close?  I know seems like I don't know much and I don't but I do want to start.  Any help appreciated!  Thanks!

Loading replies...