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Updated over 5 years ago on . Most recent reply

Cory Peters's profile image
Cory Peters's profile image
Cory Peters
  • Rental Property Investor
  • from Charlotte, NC
  • Member since Feb 26, 2018
  • Posts 16
  • Votes 3
  • Experience 10 Yrs
  • Investments 1
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16
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Cory Peters's profile image
Cory Peters's profile image
Cory Peters
  • Rental Property Investor
  • from Charlotte, NC
  • Member since Feb 26, 2018
  • Posts 16
  • Votes 3
  • Experience 10 Yrs
  • Investments 1
Connect
Cory Peters
  • Rental Property Investor
  • Charlotte, NC
3
Votes |
16
Posts
General Real Estate Investing

Should I purchase this property?

Cory Peters
  • Rental Property Investor
  • Charlotte, NC
Posted

I have a house under contract for $165,000 with an appraised value of $169,000. Its tenant occupied collecting $1300/month. My mortgage would be $950/month and my cash invested would be $37,000. Is this something I should invest in or should I cut my loses and look for a more ideal property? Thoughts?

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Bjorn Ahlblad's profile image
Bjorn Ahlblad's profile image
Bjorn Ahlblad
  • Investor
  • from Shelton, WA
  • Member since Apr 8, 2017
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Bjorn Ahlblad's profile image
Bjorn Ahlblad's profile image
Bjorn Ahlblad
  • Investor
  • from Shelton, WA
  • Member since Apr 8, 2017
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Bjorn Ahlblad
  • Investor
  • Shelton, WA
6,949
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Bjorn Ahlblad
  • Investor
  • Shelton, WA
Replied

@Cory Peters I would definitely let it go if you are buying and holding; there is no money to be made.

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