Underwriting deals for my clients is half the fun.

For small MFH/SFH you have to find the deal, inspect, estimates and decide what to do, make a deal, get financing, get contractors, manage contractors, pay contractors, then turn it over to a property manager.

For your first deal I would suggest a cosmetic rehab to mitigate your risk.

What made you interested in investing in this type of deal?

What made you interested in investing in this type of deal?

Hey @Alex Deal, we use QuickBooks Online exclusively for all of our REI Clients.

I guess be happy it’s only a couple months and a cheap lesson learned?

The additional bedroom adds to both the rental value, and significantly to the appraisal value, obviously.Given it's priced as if it's a 2 bedroom and not a 3, it seems like a great deal. 

And while seller financing is a very common practice in business acquisition, the good deals are not being done with high levels of it.Particularly with smaller deals, and especially with a business like a laundromat, there are cash buyers out there.

Please forgive the question I know it's probably pretty basic but this is just our 2nd deal so we are still learning.