Check me on this: Does this look like a good deal?

Question

Throwing this up there. I'm a month or so away from making a cash offer, so I'm practicing. To me, this looks like a good deal, can probably buy down with cash, and should flow. Looks almost turnkey.

So I'd like to either a) watch a feeding frenzy or b) have everyone tell me why I'm WRONG about this.

Thanks in advance. Listing below:

https://www.zillow.com/homedet...

Patricia Steiner · Answer

There are a lot of factors in finding a great deal and a listing in itself - like the one shared herein- is not enough.  Why do you think it's a great deal?  And, for what end purpose?  How does it compare to other comparable properties on the market?  What is it worth - not based on zillow's guesstimate but on comparable sales?  What's your end game...never go into a deal before knowing how you get out.

I'm impressed that your practicing but why not add some bench strength to your search.  Find a investor-focused realtor/broker - that is someone who works primarily with investor buyers - and let that person fine tune the analysis/ROI for you.  As a buyer, you pay no commissions so you'll have a solid contract, more resources, and someone who knows valuation.

Never forget that when you're the smartest guy in the room, LEAVE.  Be the smartest by finding resources who are experts in their silo so you can leave skid marks everywhere.

Account Closed · Answer

@Patricia Steiner will do as soon as I have cash in hand am and ready to go. In the meantime I thought I'd get a little info from people who know the area. Thanks.

Account Closed · Answer

@Alison Walden thank you!

Alison Walden · Answer

I see that it’s pending but just from looking at it-it’ll rent for about 1300-1400—maybeee at the 1% rule? It’s not a Brrrr bc it’s already done. It’s also Schenectady which has all different areas and You can get a house a couple blocks away for under 50k. If you want to spend 135 on a house that needs some updating but not much and are looking in that area go to Rotterdam where rents and schools are a bit better.