Feedback requested

[Kevin Gilliard]

So I have two properties that I came across and would like some input. I have not yet looked at both proprieties, however property 2 I have a viewing today. Will try to setup viewing for property 1 today if possible.  Thanks for all input.

Property 1. 

• $30K list price plus closing costs
• Title search already complete
• 2 bedroom 2 bath
• Vacant
• Rental rate is $700/month
• Taxes: $519.89/year
• HOA is $183/month
• Buy and Hold:
  • $1000 in repairs (clean and paint)
  • $275/month Net Operating Income
  • 11% Cap Rate

Property 2

24,900/price

2 bedroom 2 bath

deck/ balcony

vacant

rental $600-$700

HOA: $238

TAXES: ?

Needs TLC such as cleanup and paint

2 bedroom 2 bath, balcony off of family room and master bedroom. Fireplace in family room. Split bedroom floor plan.