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Updated over 6 years ago on . Most recent reply
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Want to purchase first rental property but have some questions...
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!