Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago on . Most recent reply

User Stats

3
Posts
0
Votes
Nikki Drahm
  • Somerdale, NJ
0
Votes |
3
Posts

Second opinion on possible rental property

Nikki Drahm
  • Somerdale, NJ
Posted

I am considering purchasing a 94,000 rental property that will need approximately 15,000 in repairs to be ready for a tenant. I plan to finance this property - 20% down , 30 year at 5.25 % . https://www.zillow.com/homes/for_sale/604-Otter-Br...

My real estate agent said that the arv is 140,000. and the rent would be 1500/month. My concern is that several years down the road when I plan to sell it, I will need an additional 10,000 to 15,000 in repairs to upgrade it for sale. Any input on whether or not this deal makes sense would be appreciated. 

Loading replies...