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Updated over 7 years ago on . Most recent reply

Brendan Flannery's profile image
Brendan Flannery's profile image
Brendan Flannery
  • Rental Property Investor
  • from League City, Texas
  • Member since Dec 18, 2011
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User Stats

59
Posts
23
Votes
Brendan Flannery's profile image
Brendan Flannery's profile image
Brendan Flannery
  • Rental Property Investor
  • from League City, Texas
  • Member since Dec 18, 2011
Connect
Brendan Flannery
  • Rental Property Investor
  • League City, TX
23
Votes |
59
Posts
Real Estate Deal Analysis & Advice

I need to know if this is a good deal

Brendan Flannery
  • Rental Property Investor
  • League City, TX
Posted

I am finally ready to buy my first rental property.  I just need to know what everyone thinks.  The house I am looking at is 125K, but needs paint, carpet, AC, and foundation.  The total for repairs is 11K.  I can get a loan for 136k with 15% down @ 6%.  After repairs the property would appraise for $160k and I would rent for $1400.  I just need some advice, and motivation to do this deal if it is a good one.

Thanks

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