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Updated about 16 years ago,
Newbie Looking to buy second investment property
Hello,
I am a newer investor. I am looking at buying this small house in my hometown. It is an 800 sqft, 2 bedroom, 1 bath ranch, The house was listed in July for 77k its now at 19k. The non homstead taxes are around 1500. I would say it will need minor repairs maybe a couple grand into it. Its located in one of the best school districts in the area, which is a very nice area. I figure i can get around 600-650 a month for it. My question is, what should my starting offer be? I am thinking around 10k. What do you guys think?