General real estate investing

[Rebecca Shedd]

Deal or No Deal???

Found a 4-plex for sale in San Antonio for $185,000. $35,000 in rehab. The general contractor that wrote up the proposal has a good BBB rating, & can do the work. The ARV = $250K.

1 tenant currently living in 1 unit (efficiency) paying $700/mo. Can potentially rent out the other 3 units for $2,400/mo more.

It has a new roof, updated siding & foundation work has already been done. Foundation work comes with an engineer’s report & 1 year transferable warranty. Located in Denver Heights, San Antonio. 2,400 sqft.

This sounds like a great deal to me, & my lender.

I’m just nervous.

What do you think? Deal or No Deal?