All Forum Posts by: Corey Schlueter

I went ahead and put a low ball offer on it of 10,500.  Doubt I'll get it but its worth a try.

@Jeiby Vizcaino

Thanks for the impute but the numbers did not work for me so I'm out.

@Bill Jacobsen

12% is awesome but since this is my first investment I wanted to have a good exit strategy in case I needed the money for another investment. Not to mention with that small of a margin for potential profit what if something unexpected happens and I have to pay more to get it rent ready. I will have lost money if I pay more than its worth. Yes the rent looks great but it is a fixer and I feel like I need more of cushion for the unknown. Am I right?

@Bogdan Cirlig

Good to know I will look a little closer at that. Thanks

@Ndy Onyido

A very small town down in southern California.

Im looking at a property right now priced at $20,000. I estimate renovation at about another 20k, so I'm in it for 40k. Cash flow would be great as rent in this area are 800/month for this type of house, but I cant seem to find good comps. There all over the place from 83$ a square foot to $52 on houses that sold fully remodeled recently. The house im looking at in 936 square foot witch puts my price per square foot at $42 per square foot. Not counting my 30% discount. 

I guess my question is should I buy it even though the resell value doesn't quite reach my 30% margin just because the cash flow will be good? What would you guys do? There is also 8 other offers so I might have to pay a little more to get it.