I'm about 70% convinced it's a deal

[Matt R.]

Been reading here for a couple days and looking for property's for a while and think I found one. A sfr 3/1 asking 40k, currently rented out with the tenants paying 750 a month. I'm going to offer 32k for an all cash deal then refi it once it's closed. He bought it 5 years ago for 80, he advertising it as instant equity. The nearest 2 properties(literally 1 block away) are for sale for 80k, but that block is definately nicer then the one my house is on. If the inspection is good looks like I'll be a 1st time landlord. What do you think??

[Jon Holdman]

If your intention is to finance it you should just offer it as a financed deal. Get your financing in order and pre-approved. That will be much easier than trying to do a cash out refi anytime soon.

The deal looks good, especially at $32K.