Hi Everybody! In need for advise!

[Sarunas Siauciunas]

Hi, I'm looking for advise. I found a deal that makes sense to me. The deal is for $118,000 and its in foreclosure. The property will need about 50K on rehab, the taxes are about $3500/year. Minimal rent will be at least $1500. I'm looking to offer 100k to begin. I have 40k that i can use to buy it or and use it tows rehab. Since i change my job about 6 months ago, I do not have solid 2 years for a conventional loan. Where would you guys go with it? If i have trouble finding renters i will house hack and i already have someone that will live and pay 600/month. The house has 6,bed 3.5 bath and its in a great school district. I do not want to pass this deal so maybe you guys have some thoughts or ideas to get in the deal. Any advise will be great! Thank you for your time.

[James Wise]

@Sarunas Siauciunas what is the ARV after the rehab?

If it's similar to $170k you'd be better off buying something in the $170k-$180k range so you can keep your cash input lower.