4th Deal in 2021 - SFH in Buckner - Roofstock

[Murali Jesudoss]

Hello BP Family,

Thanks for all of your guidance and help. I closed my 4th successful deal this year for a SFH in Buckner, MO through roofstock.

Purchase Price: 135K

1000+ sq ft. 3 Bed 1.5 Bath 2 Car Garage

Currently Rented for $1150. Raising the rent or turning over end of June to bring up $1300+.

Went for conventional with 4.25% no points 20% down (crazy!)

The home is in decent shape with no major rehab required and already rented. Working with tenant to renew and if not will do a cosmetic rehab and bring the rental to market value. Informed tenant about rent increase to $1300 (she was not having any hike for last 2 years and waiting on confirmation).

I was eyeing this property for a while and made some low ball offers around 125K, but the seller would not budge. Market was getting crazy and the seller also raised the price to 143K. Finally worked through roofstock and negotiated to $135K. Fair deal I guess with some deferred maintenance on roof, flooring coming up in few years. 

Please share what do you guys think.