[Calc Review] Can i get some feedback on this deal?

[Bernadeau C.]

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Hey guys,

Any kind of feedback on this deal would be greatly appreciated! 

Thanks, 

[Jason L.]

You're buying the house for $225k, putting 0 into it, and it's instantly worth $275k? If that's true, then you better get it under contract before the seller finds this forum.

I'd say it's also a bit naive to expect the house to be perfect beyond pressure washing and carpet cleaning. You'd be surprised what people will live in, especially long-term owners/tenants who tend to neglect basic maintenance. For all you know, any or all of the roof, plumbing, and electric might need complete overhauls. If it's a frame house, then the wood could be rotted. These are things that are not visible to the naked eye. Maybe the house is perfect but are you prepared to handle something major if needed?

Considering your COC is like 170%, then there's still plenty of meat on the bone to buy it even if you needed to add $10k-20k in upgrades.