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Updated over 8 years ago on .

User Stats

65
Posts
9
Votes
Drew Oberholtzer
  • Investor
  • Los Angeles, CA
9
Votes |
65
Posts

BRRR deal in new market

Drew Oberholtzer
  • Investor
  • Los Angeles, CA
Posted

I'm purchasing a 2 story house in Pottsville, PA for $29K cash.  It needs roughly $5K in work (paint throughout and a new subfloor in the kitchen)  It's a solid brick house in a decent area of Pottsville. The house should rent for $800/mo.  The utilities paid by me will be sewer/water/trash.  The costs are $42, $52, and $17 per month.  Insurance is $50/mo and the taxes are $60/mo.  I've been told that with the $5K of added value it should appraise somewhere between $50K-$60K.  I am an out of state investor so I'm still getting quotes on management fees.  Any thoughts on the deal would be appreciated.