Hi i am working on an offer the house is 3 familyasking price is $250K   repairs will be 100kcap rate similar homes 7-8%.. according to my calculation i came up with 10%the rent as the sales agent says per unit $1800-2000C classi intend to go with hard money lender...at 65% of ARV.. -100k repairs The sales agent said, the ARV would be 400k for this particular home... some comparison homes are alittle higher 450 to 550what do you suggest the offer on this property should be?

Look at things for rent in the area around the property on zillow/realtor and find what similar prperties are listed for. i.e. if yours is a duplex and each side is 2 bed 1 bath and you see that single family homes that are 2 bed and 1 bath are renting for $1000/month you know yours will rent for slightly less.4.

Hello everyone, I’ve posted a question similar to this before in regards to Miami but I’m curious about Fort Lauderdale too. 

Then, price it just a bit under a similar SFH and see what you get.It just takes one.Good luck!

Basically want to hear from anyone who has done an FHA loan w/ or w/out a 203k attached on a similar property or even a duplex? 

For example, for my last deal, some of the numbers are similar: the rehab was 45k, purchase price was 65k, and Total Cash at purchase ended up being 10k in closing costs plus a down payment of 12k. 

Agreed that california may not be the best place for this kind of business with stringent laws and all, but what's the guarantee that similar stringent laws may not come up in future in currently liberal places?

Hopefully someone else has a similar situation and this could help them out as well.Thanks in advance,Cindy C

I've had one tenant owe me $2k+ - I was polite to her when she moved out and treated her with dignity and respect and she paid me every dime 4-5mos later when she got her tax return - have another similar incident when someone else fell on a hard time. 

I have a totally different take on it (and was in a similar situation just a few months ago).The $429K is not all your money, so the argument others make that you could take that money elsewhere is false.