Still great deals out there but harder to find

[Sam T.]

It seems harder and harder to find great deals but they are still out there. I was able to get a 4 unit under contract that a gut rehab was done on about 7-8 years ago. Its a foreclosure but the building is in great overall condition. Purchase price is $55k and needs around $25k in repairs. Each unit is 2 bedrooms 1 bath but the units are so large that we can get 2 more bedrooms in each unit. I will easily get $1200 in rent per unit/month for a total of $4800 month. I jumped all over this when I saw it and offered full price to get it under contract even though there were no offers on it. Usually I don't give asking price but I haven't seen a deal like this in while.