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Updated over 7 years ago,
Potential first deal - I think the numbers are tight.. Right?
Hi BP - So i learned about about BRRRR investing last week. And want to buy something this week. I feel like I'm over my head.
Here's the property:
https://www.redfin.com/NY/Mahopac/78-Orchard-Rd-10...
It a foreclosure listed at 99K in Mahopac (Zip 10541) I can get it for 80K cash. (which I have) Needs a ton of work. I'm guessing 30K but really have no clue. I looked at what it might rent for based on comps so i think 1100 is a conservative number. I live 15 minutes away which is why I found it attractive
Thoughts? @Austin Fruechting; @Andrew Johnson, @Cody L., @Steve K. anything i should be thinking about? I can play with the numbers to make it work but it seems like a stretch?