Buy one or use P2P and buy two?

[Adrian DeGraff]

So taking the feedback that I got from the first thread, I adjusted my price range down to something I could afford without much financing on the down payment.

With that in mind, I found two more properties. (I'll skip the details unless people actually want/need to know)

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Illinois Avenue: Mostly young, established professionals or brand new families. About a B+ to A- neighborhood.

3 br/2.5ba

Price: 75,000

CoC vs 50%: 23%

Cap Rate: 8.3%

Allin: ~$12000

ARV: 90,000

Built in early 2000's

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Connecticut Avenue: Next door to the university, crime isn't an issue in the surrounding area but can be if you go too far out. Mostly college kids

3 br/1.5ba

Price: $40,000

CoC vs 50%: 16%

Cap Rate: 12.3%

AllIn: ~$11000

ARV: 55,000

Built in late 1950's

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I can afford one with no problem, but ideally, I'd like to add both by using P2P financing through lending club. I'd ask for 15K, buy both, do some minor repairs, appraise it for full value, cash out after awhile, pay lending club back, and repeat the process with the 10K left.

TLDR: But does that sound feasible? Am I going for too much as a first timer?

[Chris Martin]

Just curious as to where these are located... since they are not in Cary, NC. These almost look like monopoly cards. If you can get Indiana Ave and Kentucky, you can put up hotels. BTW, my company has property on Kentucky ... but it is in Garner, not Cary.