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Updated about 7 years ago, 10/09/2017
Is this a good 1st rental?
Hello BP,
Last night I came across a good deal where I feel this can be a great opportunity to acquire my first rental but wanted more insight heres the breakdown:
The property is located in the city where there is some crime but the address is on a decent street
It is turnkey with current tenants paying 1125/month
Tax assessed at 30k, the seller is asking for 24k
It is a 5br 2bth home
I am assuming it needs no work since its currently rented, should I attack this deal or walk away? Personally I do think its a good deal and I would like to negotiate for a better price but I wanted more insight from experienced and seasoned investors.
Thank you!