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Updated over 2 years ago on . Most recent reply

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3
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Wayne Hampton
  • New to Real Estate
  • Plymouth, OH
0
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3
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Looking for some advice on a potential deal

Wayne Hampton
  • New to Real Estate
  • Plymouth, OH
Posted

I am looking at a 3 unit 3000 sq. ft. (potential for 4 or 5) priced @ $135,000.  2 of the units need updated,  potentially just gutted.  The siding will need to be painted and eventually changed to vinyl siding along with 28 new windows.  I offered $105,000.  Seller came down to $120,000 and won't budge off of that price.  I can't decide if I should go ahead and give them the $120k or move on.  Currently the 3 units rent out for $500 a pc.  If updated they should easily rent out in my area for $650 to $750 a month.  I think that @ $120,000 it is still a good deal and would like to do a buy, rehab, rent and refi.  Just looking for some advice.  Thanks!

Most Popular Reply

User Stats

139
Posts
144
Votes
William Harvey
  • Investor
  • Ashburn, VA
144
Votes |
139
Posts
William Harvey
  • Investor
  • Ashburn, VA
Replied

@Wayne Hampton I plugged this into our cloud-based analyzer and here is what a BRRRR might look like. Seems like it'll cash flow and isn't a bad deal at all. I didn't have all of the variables so this might be off, but you can take a look and tweak. Hope this helps!

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