First deal under contract.

[Richard J. Kalnitz]

Got our first real estate investment property under contract in Dubuque Iowa. A nice 3 story townhouse. Now we need to get the rehab started, right after closing that is. We got the property for $32,000.00, needs about $60,000.00 to $70,000.00 in rehab. After repair value should be $126,000.00 to $133,000.00. Close to Millwork district a rehabbed area of downtown and right near Central Avenue where the city is going to be investing $18,000,000.00 in redevelopment.

[Richard J. Kalnitz]

Hi Jonathan. In 2019 taxes were $646 for the year. Rontometer has median rent for this address and type of house at $1300. Our agent is an investor as well and he believes it would rent for $1500. We also talked to a few local management companies who tell us to list it at $1500 to $1600. We will be renting it out after rehab. Our numbers were run with the rent at $1200 and purchase price at $40,000.