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Updated over 4 years ago,
Is this a steal? Or a bad deal? SFH BRRRR Opp
I found a SFH for sale near Atlanta that is a fixer upper. Advice would be appreciated! I'm not sure if I should go for it or not, but I do think it's the best opportunity I've found so far.
Price: $45,000 (incl closing costs)
Rehab: $25,000
All in price: $70,000
- Rent - worst case scenario: $900
- Rent - medium scenario: $1,000
- Rent - best case scenario: $1,250 (w/o COVID I would be confident rent would land here)
The median price in the zip code is $123k. This is a 7 bedroom 2 bathroom home near a university, however it's in a "up & coming" part of town where some houses are still in bad shape but others are great. It's a 5 minute drive to downtown.