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All Forum Posts by: Chandra Reddy

Chandra Reddy has started 2 posts and replied 3 times.

Buying & Selling Real Estate

Post: how about this condo deal?

Chandra ReddyPosted
  • Rancho Cordova, CA
  • Posts 3
  • Votes 0

condo
120k
Expenses: 841 = HOA+mortgage+taxes+insurance
Rent: 1100
Good location and good schools
I don't have to do day-to-day maintenance as HOA takes care of it.

Its only 250$/per month profit/cash-flow. But, I'm betting on appreciation in 2/3 years. So, looking at selling it at around 150k profit in 2/4 years time.

0 Votes
Buying & Selling Real Estate

Post: how about this idea?

Chandra ReddyPosted
  • Rancho Cordova, CA
  • Posts 3
  • Votes 0

Thank you Kelvin! The city says it can be subdivided as it is a too big of a lot. I'm just looking at making a profit of about 20-30k on new house constructed and about 40k on land of the newly built house. And, about 50k on the third vacant lot. And, of course i will take a beating on the original small house as the lot would be smaller then. :)

0 Votes
Buying & Selling Real Estate

Post: how about this idea?

Chandra ReddyPosted
  • Rancho Cordova, CA
  • Posts 3
  • Votes 0

Hello Everyone!

I would like to buy a small home sitting in a large lot, split it up into atleast 3 lots, build a house in the second splitted lot and sell the original small home and vacant lot. All for under 500k. is it even remotely possible? Do you think it is a good idea?

0 Votes