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Updated over 10 years ago,
First deal: how to maximize ROI
Hello, new to real estate and need some advice on creative financing.
4/2 SFR built in 2005 (pool and screened-in patio included) just came on the market. Desirable neighborhood with great schools. Comps average $230K without pool and patio. Motivated out-of-state sellers tired of renting and asking $259K. Potential rents $1400-1800. Operating costs (pool, lawn, insurance, taxes, prop mgmt) are $800/month. I can cover the 20% down but wondering if this is the best way to proceed or if I should proceed at all.
What would you suggest in terms of offer price, debt services, and creative financing to maximize ROI?
Thanks so much for the help!
-Kevin