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Updated about 11 years ago on . Most recent reply

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Mark Ferguson
  • Flipper/Rehabber
  • Greeley, CO
1,353
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Rental number 9 is under contract.

Mark Ferguson
  • Flipper/Rehabber
  • Greeley, CO
Posted

It's been tough going lately finding a good deal but I got one under contract today. It was a fair market sale. Went to highest and best of course after one day on the market. My offer of $133k was accepted, which is higher than my other rentals but this home needs no repairs. 1960's ranch. 4 beds, 2 baths, hardwood floors, new windows, newer kitchen, 2 car garage, newer furnace, newer baths. Should rent for $1,300 to $1,400. Taxes are $658 a year.

I think one of the other offers may have been higher but I had a portfolio loan and I emphasized I would not ask for repairs and my lender has never asked for repairs on any of my properties.

Most Popular Reply

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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
6,551
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9,365
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
Replied

@Mark Ferguson ditto! Just put number 7 under contract here in sunny SW Florida. Deals are few and far between. I am paying cash rather than financing. Putting in another contract tomorrow on another one. I think when I get about ten I will probably call it quits. I handle all the management to help cash flow. You must agree that RE is a great investment as well as fun! Playing monopoly with real money and real properties can be very rewarding.

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