Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago,
Need Help Evaluating This Deal! (Newbie)
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?