Maybe my 1st rental ?

[Michael Widick]

Looking for a common sense check..

Just completed my first flip, looking to use profits towards my first rental. Been researching and learning anything and everything REI related for about a year now and feeling good.

Came into a offer on a 3/2 1300sqft in

Columbus GA. Not the greatest neighborhood but I think it’d probably be great for renting out.

15k asking..

$40-$50k in repairs

ARV = $75-$99 (clearly based of level and quality of materials, fixtures, etc..)

With those numbers I’m not feeling super confident about flipping, especially after taxes, tag and tile. Would almost be upside down.

However, thinking this might be a good first rental, especially to BRRRR ..

Comps in the area are renting from $800-$1300

Most are 3/1 so mine being a 3/2 clearly is more tangible.

I own my own construction company, so not super worried about repairs/ labor prices etc. id also be managing my self. Ran the numbers through the BP calculator and would net $800 a month after tax, maintenance, etc.. if rented at $1000am

Whatcha y’all think?!