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Updated over 9 years ago, 09/23/2015

Stanley E.'s profile image
Stanley E.'s profile image
Stanley E.
  • Rental Property Investor
  • from North Little Rock, AR
  • Member since Dec 15, 2014
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User Stats

148
Posts
43
Votes
Stanley E.'s profile image
Stanley E.'s profile image
Stanley E.
  • Rental Property Investor
  • from North Little Rock, AR
  • Member since Dec 15, 2014
Connect
Stanley E.
  • Rental Property Investor
  • North Little Rock, AR
43
Votes |
148
Posts
Buying & Selling Real Estate

My Realtor

Stanley E.
  • Rental Property Investor
  • North Little Rock, AR
Posted
Hi BP. I have a potentially profitable situation but wanted your opinions. My realtor has a property he wants to sell for $15K. He tells me it appraised at close to 42K. The rent is $525/mnth, but the tenant pays $575/mnth because of late fees. Of course I will ask him why he wants to sell. What other questions/documents do I ask for? At face value, this looks like it could have a CAP rate of .40+. It is a 2 BR/1BA w/bonus room and central air. Let me know your thoughts/suggestions. Thanks.
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