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Updated almost 4 years ago,

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Account Closed's profile image
Account Closed
  • Wholesaler
  • Member since Nov 17, 2020
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • Wholesaler
  • Member since Nov 17, 2020
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Account Closed
  • Wholesaler
0
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17
Posts
General Landlording & Rental Properties

RENTAL PROPERTY INVESTORS: How important is day 1 equity?

Account Closed
  • Wholesaler
Posted

I'm potentially about to get a property under contract in Memphis. It meets the 1% rule, but will only have the equity from the down payment(I'm assuming the buyer will pay 20% down). Is this a good deal?

Price: $55k

ARV: $70k

Repairs: $15k

Market rent is $750 a month

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