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Updated about 5 years ago on . Most recent reply

Preston Herd's profile image
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Preston Herd
  • Member since Jul 4, 2019
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Preston Herd
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Preston Herd
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Atlanta Real Estate Forum

Do I have a deal? Help me figure this out.

Preston Herd
Posted

I have a Sfh 3/2.5 in a nice area under contract for $215k the ARV is 280k. Suggested rent price is $2,100. It is a foreclosure and it needs no repairs. Do I still have to buy at .60/.65% to be a good deal?

Atlanta, Georgia
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Kevin Auyong's profile image
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Kevin Auyong
  • from Marietta, Ga
  • Member since Nov 17, 2013
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  • from Marietta, Ga
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Kevin Auyong
  • Marietta, Ga
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Kevin Auyong
  • Marietta, Ga
Replied

I'd reconfirm the numbers to make sure. My question is if it needs no work and it's truly worth $280K, why is the bank letting it go for 215K? In this market they could easily get full price.

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