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Updated about 4 years ago,

User Stats

87
Posts
39
Votes
Jacob Fitzgerald
  • Realtor
  • Angleton, TX
39
Votes |
87
Posts

Two for one homes twice the head ache

Jacob Fitzgerald
  • Realtor
  • Angleton, TX
Posted

I have an opportunity to buy 2 homes for the live of ONE!! Woohoo... heres the catch

Home A:

$50/60k purchase

$50k repairs

ARV:$135k

Rent $1250

( this home is owner financed to a guy who’s always late and behind on taxes!) so in essence I’m buying a note

Home B:

$50-75k

$50k repairs

ARV $150k

Rent $1400

This home had a bad tenant with no contact and only payed one month of rent now... won’t leave!

home A: will cash flow (if he pays) $700 that’s my part after him paying taxes insurance ....with me risking eviction eventually...

Home B renter has to be evicted... with all this covid stuff and no contract I’m concerned he has the upper hand and I’ll be paying for it...

Is the upside worth the head ache!

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