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Updated over 3 years ago,
[Calc Review] Help me analyze this deal
Hello. Still hunting for my first deal and it seems like I've found a gem. I would appreciate a quick review of my analysis.
Notes: Within 0.5 miles of the middle and high schools, as well as major roadways and highways. For sale by owner. Roof needs replacement (stated). No pictures included, but stated that it needs a new roof and TLC. Therefore, used a high rehab estimate of 50K (did not use any rehab spreadsheets or calculators). Would need a contactor to walk through. 2BR/1BA per unit. Rent and ARV using comps. All #s used very conservatively. Purchase price is the asking price (would maybe even offer higher). Taxes from records. Insurance an estimate based on what I've seen.
Potential red flag: Between the need for a roof (and TLC), the great price, and the for sale by owner, the owner seems to want to get out fast/low on cash, so it could mean bad tenants that will need to be evicted.
Thoughts? Thank you. No stealing lol.
*This link comes directly from our calculators, based on information input by the member who posted.