1st RE deal

[Brandon Ellis]

I hear the first one is the hardest. Here it is...

3/2 ranch

Cost $39,000

Comps vary from $25k to $45k, most properties in the area are rentals, the ones at $25K are in questionable condition

this one belongs to a co-worker who needs to reorganize due to divorce, he had dropped the price $10K. There is already a section 8 tenant with about 9 months left on her contract. She has been there 3 years and pays on time. He has maintained the place well and it doesn't need any work initally (pending inspection of course)

average rents in the area $600/mo

I can put 10% down, if not a little more

Let me know if you need more info. I am sure I am leaving something important out of the equation.

Brandon