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Updated over 7 years ago on . Most recent reply

User Stats

30
Posts
8
Votes
Rashad Colton
  • Atlanta, GA
8
Votes |
30
Posts

new deal, new numbers.. HELP ME PLS

Rashad Colton
  • Atlanta, GA
Posted

so I have still been looking for my first real estate rental here are the numbers:

(asking) price 69000, im using conventional loan with 15% down. The home needs about 4k-6k for repairs. The arv is 85-90k for similar homes. So im putting 10,350 down with $100 closing and seller will pay remaining closing and fees. My rate would be $58650 at 5.25% is this good? my credit scores are  717, 704, and 743. Looking at the deal i can rent for about $1000 per month due to it being a  3/2 in a decent area. What do you think? I am planning on going to view this weekend.

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