Does this deal make sense?

[Chukwudi Motanya]

Hey BP Family there's a deal I'm working on that I want to run by you guys. I don't think it makes sense from a cash flow perspective but wanted to get your view.

Single Family House in the Metro Atlanta Area

$59,000 (They have countered me to $59,000. Was originally $60,000)

Comps in the area range from $65,000 - $70,000

Currently a tenant in the house paying $800 a month

Financed deal at 4.75% - 5.00% with 20.00% equity down

Blue Collar neighborhood. 

Does this deal make sense or no? and at what price would it make sense to you?

Thanks for the input!

Chudi

[Ericka Parrott]

I'd pass. Is that owner financing?  If so that does make it an attractive deal but there are still plenty of properties on the market in Stone Mountain for under 59,000 and I'm sure you can also find off-market deals with much better numbers.