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Updated almost 10 years ago, 02/03/2015

User Stats

942
Posts
501
Votes
Marci Stein
  • Rental Property Investor
  • New York, NY
501
Votes |
942
Posts

I'm on the fence-help push me to a side---

Marci Stein
  • Rental Property Investor
  • New York, NY
Posted

Here's the deal--- accepted offer for 42,500 in upstate ny. Buy and hold ---

   Cozy (small ) 3 bedrm, 1 bath,  basement:

Pros:         * Rent will be almost 2% of PP ($ 750-800 )

                  *Recent upgrades include: siding, windows, furnace,floors, kitchen appic.

                   all in past 7 years

                   * B or B-  area

Cons:        *Corner lot (?)

                * Not the most attractive block in the hood due to 4 of 7 homes being 

            seasonal cabins,  (incl 2 abandoned ones)

            * Will be hard to re-sell due to the way it looks (modern-- not cute cabin , rustic look is what buyers in that area want).

Thoughts very appreciated!

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