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Updated almost 7 years ago,

User Stats

63
Posts
18
Votes
Johnathan Mark
  • Rental Property Investor
  • Houston, TX
18
Votes |
63
Posts

Need Help Evaluating This Deal! (Newbie)

Johnathan Mark
  • Rental Property Investor
  • Houston, TX
Posted

Thanks for all the help all. Wondered if you could offer a second eye on a property that's come in as a lead. I'm looking to do some light rehab work and flip.

  • 3 beds 2 baths 1,663 sqft in Seagoville, TX (suburb of Dallas)
  • Built in 2007, nice neighborhood
  • Seller is a wholesaler, wants $143k
  • Has a tenant in it (lease is up 12/31/18 but has multiple dogs which is a violation of the current agreement)
  • ARV is looking to be around $183k (4 comps in the area, all 3/2s sold in the last 90 days, within 100+ sq ft and 5-6 years build date)
  • Estimating around $6k in repairs (new hot water heater, carpet, interior paint, toilets, deep cleaning)
  • Based on my analysis, I can make $13k min after fixed costs and repair (IF the tenant moves out with no hassles)

Thoughts?

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