All Forum Posts by: Ryan Curtis

Does anyone have experience with FHA 203(k) rehab mortgages? Can you explain the good and the bad? I stumbled across this and it peaked my interest.

Thanks Brent,

I might be able to grab it for $200,000. Thank you for the comments and thoughts.

3 duplex buildings (6 units in total) renting for $645/month. Landlord pays Water and Garbage ($120-150 month). Tenants pay all other utilities. Units have been recently renovated. Each unit is roughly 620 sqft, amazing kitchens, small living room and bedrooms are on the smaller size as well. Each unit has central air.

Currently a bank owned property. A recent appraisal done on the property done back in June came up with an appraised value of $345,000.00. The bank initially posted the property for sale at $289,900. Now it is listed at $259,900. Bank is willing to do 100% financing.

Taxes are $8,000/year, Insurance is $2,600/year

Is this a good deal? If not what price makes this a good deal?