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Updated almost 10 years ago on . Most recent reply

User Stats

9
Posts
0
Votes
Seth Greiner
  • Real Estate Appraiser
  • Indianapolis, IN
0
Votes |
9
Posts

Is this 3/2 in Indianapolis a deal?

Seth Greiner
  • Real Estate Appraiser
  • Indianapolis, IN
Posted

The property is on the west side of Indianapolis off of 10th and girls school rd. I plan to rehab, refi, and rent it for 3 to 5 years and then sell.

Purchase price is 77k 

Repairs 18k

ARV is 115k

Loan costs 5k

Rent 1100

After refi I should only have about 9k left in the deal

Cash flow after mortgage and expenses should be a little more than $200 per month

I am having a little analysis paralysis on this and would like some advice if I should proceed with deal as is.

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