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Updated over 5 years ago,
Jason MalabutePoster#4 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Los Angeles, CA
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GETTING TO PURCHASE 2ND PROPERTYT
Hey guys getting ready to purchase my 2nd property. This one will definitely be a BRRRR. Here are my criteria:
- 1.ARV > $100K (I.E. AVG HOMES 100K ONCE FIXED)
- 2. RENT > $800 AFTER REPAIRS
- 3. NEXT TO HOSPITAL
- 4. B OR C+ NEIGBORHOOD
- 5. I CAN BUY DISTRESSED PROPERTIES THAT WONT QUALIFY FOR FINANCING FOR 60-80 CENTS ON THE DOLLAR
- 6. I CAN BE ALL IN AT 75% OF ARV
- 7. OK SCHOOLS
- 8. NO HIGH CRIME RATES
- 9. 3 BED / 2 BATH
What neighborhoods do you guys thing fits my description the best? Is there any up and coming that is in the "path of success" like Irvington you guys suggest I focus on? Which neighborhoods are and will be gentrified next?