Hi I'm new here and have an urgent matter. I'm trying to purchase my 2nd property and the numbers are tighter than I had hoped for. My first property was a commercial property and the deal was a great one. The apprasil came back about 24K then what I paid for it. Now I haven't rented the property yet but did get one offer to rent it that is double my mortgage payment. (Were hoping to rent it for triple of my mortgage payment) I just finished the rehab on it.
Now I'm struggling to pull the final trigger on my 2nd property which is a residential property in WI. It's 2 houses next to each other. I know what I should be able to get for the rent for one of the properties but not sure on the other. One person is telling me about $900 rent and another is saying it should rent close to $1,200 with all the updates. If I can only get $900 then my numbers are pretty tight. Is there a way I can figure out approx what one of the properties should rent for?
I would appreciate any help! I'm making a tough decision right now. Thanks, Tracy
