Take a look at this deal

[Brett O]

Here is the house I'm looking at.

It is listed at $35,000. It needs about $10,000 of rehab. It will rent for $700 per month after rehab.

I think I can get an offer of $30,000 accepted by the seller. If I do get accepted for 30K on the house will a bank loan me 40K so I can fix the house up?

Will my 40K investment be worth it pulling in $700 per month in rent?

Nice looking house huh...
:mrgreen:

[Jose R.]

Originally posted by Brett O:

Here is the house I'm looking at.




It is listed at $35,000. It needs about $10,000 of rehab. It will rent for $700 per month after rehab.

I think I can get an offer of $30,000 accepted by the seller. If I do get accepted for 30K on the house will a bank loan me 40K so I can fix the house up?

Will my 40K investment be worth it pulling in $700 per month in rent?

Nice looking house huh...
:mrgreen:

What is the After repaired value of this property?

When I'm not sure how much a property would rent for, I go Craig's List and look at the rentals under apts/housing.

Then type in the name of the neighborhood in the search box, then pick the same number of bedrooms and click on search. This will give me a ballpark figure of the rents in the neighborhood I'm researching.

Hope that helps! :wink: