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Updated almost 9 years ago on . Most recent reply

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11
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1
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Stephanie Paulk
  • Lithonia, GA
1
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11
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I'm new to investing and wondering if this is a good deal?

Stephanie Paulk
  • Lithonia, GA
Posted

House for sale at $55,000 with 10% down. 30 years at $246 a month and $85 a month in taxes. It's currently renting for $670 a month with a tenant that's been in it since 2011. The home is 4bedroom and 2 bath built in 1951 and it's 1900 sq ft. What other info do I collect to analyze this properly? 

Most Popular Reply

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2,283
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1,102
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Charlie Fitzgerald
  • Lender
  • Las Vegas, NV
1,102
Votes |
2,283
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Charlie Fitzgerald
  • Lender
  • Las Vegas, NV
Replied

I would get a whole home inspection as well as a roofing inspection and plumbing inspection just because of the age.  I'd rather spend $1000 now to avoid spending $10,000 + later, or at least know what I was looking at and negotiate accordingly from there.  Fundamentally, it's not a bad deal financially, depending on the deferred maintenance needs (if any) and the functional life of the major components.  I'd due some more due diligence, including the inspections noted here and then decide.

  • Charlie Fitzgerald
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