All Forum Posts by: Cody Cervellera

We initially offered $52,500.00 but just received a counter of $55,000 with a 7 day inspection period.

My wife and I are in the process of acquiring our first rental property. Property is listed for $57,900 and is a 2bd 2ba, but the layout of the 2nd bath is too large so can be converted to another bed. Comparable rents in the area are roughly $750 for similar properties. A new roof, AC unit, and exterior paint was just done within the past year. It will need flooring throughout, remodel the kitchen and remaining bath, replace some windows, convert the other bath to a bedroom and paint(I'd say $7k-10k). Taxes last year were $975 on the property. We would be putting down 20% on this property. Just looking for some outside opinions on the numbers, if i left anything out please let me know!

Thank you

Thank you both for the responses, I will be going to look at the property tomorrow morning. I will make sure to find out how the property has been maintained.

Looking to get my feet wet with a possible Duplex i've found. Each unit is a 3/2 with rentometer quoting roughly $800 per unit(not sure how accurate that is). It is an REO listed for $84,900, stated to be newly renovated carpets, paint, bathrooms. Property taxes on it are $1600. I am not looking to live either unit, so is 20-25% down the only option i'll have?
Any input regarding the property will be very much appreciated!