Is this a good deal? I have to make a decision by tomorrow!
Hello, I'm relatively new to investing in rental property and have a potential prospect that' I'm under contract for. I am at the end of my due diligence timeframe and have to make a decision by the end of the day or early tomorrow. Here's the link to the property in question: 810 S Nettleton Ave, Springfield, MO 65806
The seller has agreed to sell it for $75,000.
The property is currently rented for $520 (unit A) and $420 (unit B) needs about $13,000 in upfront costs to fix up. Once the units become vacant, I'll need to put in about $10,000 more, so I'm looking at about $23,000 in total rehab costs.
If I ran my numbers currectly, I think that if I were to raise the unit B's rent up to $520 then it would be grossing $1,040 after all the rehabbing is done. Does this sound like a good deal? Any advice would be MUCH appreciated!
Most Popular Reply
@Aaron Lancaster this is blunt and to the point (which may seem harsh, but truthful)
No is the answer to your question.