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Updated almost 9 years ago, 12/22/2015
Too good to be true?
Hey BP,
I have been lurking the forums for a while and testing my hand at evaluating properties. This specific property recently caught my eye as a too good to be true kind of offer. Just uttering those words should simply be enough to know to walk away but I figured I'd shoot the realtor (and property owner based upon tax listings) an email regarding the stated rental income of $5400.
It was listed on the MLS 3 weeks ago. Duplex property, 4/1 and 4/2, appears to have been BRRR'd within the last year an a half. Original purchase price of $100k and currently listed at $260k but still cash flows nicely with a Cash on Cash of ~28%.
Before reaching out to the owner/realtor is there anything specific I should ask for aside from generic financials? The following is screenshot of the analysis using the BP tool.
Thoughts? Thanks for the cold eye review!