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