All Forum Posts by: Andrew P.

A new carpet/laminate along with a painting would make it rent ready. The HVAC is still alive but might break down soon enough (a year or few).

So if I add up the repairs and hvac costs to the purchase price, I will reach the fair market value of well conditioned condos in the area.

I understand in this case it is not a good investment as I'd rather put the money straight into a well conditioned condo instead of the repairs effort.

Thanks guys.

Comparable units sold recently for around ~135-140k.

It will rent for 1250$.

Already took into account tax, hoa, etc and the positive cash flow was 122$.

Hi,

This is my first real estate deal. Looking at a condo about 1000sqft listed for 135k.

Now it needs new paint, new carpet (or laminate floors instead) and the HVAC is 18 years old.

For 25% down and a conservative 1 month vacancy is 122$.

I'm thinking of offering 128k with owner paying 3k-4k closing costs to have some cash for the repairs and maybe some spare for the probably upcoming HVAC replacement. 

Does that make sense?

thanks!