Hi everyone, I'm a relatively new investor (I've owned and managed a rental for over 10 years, but that was because of a move with the military), and I think I'm finally ready to make a purchase.
I found a seller (I think he may be a flipper) that has three properties for sale, and wants to sell all three as a package. He has each listed at $50k, and each is already rented (the first is month-to-month at $900, the second has a lease until this summer at $800, and the last is rented at $1000). I haven't been out to see them yet, but based on their locations, the rents are all accurate for where they are. I'm going to go out to see them, and if they are in good shape, I'll go ahead and try to make the deal happen. I've already got a lead on financing for the deal through a local credit union. I'm thinking that, once I have a contract, going through the usual of having them appraised and inspected to verify that they are in good shape and I am getting a decent deal.
Since this is my first, what am I missing? What else should I be asking or looking out for? Is this even a good deal? Any and all advice is welcome, thanks!
