So, if the house needs major repairs (new roof, new pool) does this already show up in the appraisal value?

Make the necessary repairs, etc. get the place rented and move on with life.

I am trying to understand the numbers a bit better and I do better by plugging in formulas and seeing the numbers change.I am especially interested in: -the layout of your pro forma-the percentage you estimate in vacancy, repair/maint., cap ex, misc-rough estimate for utilities etcI know every market is different but thats why I am asking.

In a competitive market, building a relationship and hearing out the sellers needs is the difference between getting the deal and not.About the Properties Two of the three homes purchased will have minor repairs and updates before being listed for sale on the MLS.

Good AfternoonLet me first start by saying im a first time investor and have begin dipping my feet in to the investment world, I purchased a property near a college that the numbers seem to work and would make a good student rental, I thought that purchasing the home with cash and free and clear would be a good option and to work the refinance for the repairs and upgrade to the home, its not going to take much but there in lies the rub!

When doing seller financing, is the buyer responsible for repairs?

When doing seller financing, is the buyer responsible for repairs?

I’ve been told to ignore the 1% rule, but I’m sticking with it because it makes zero sense  to me to buy something that a) won’t cash flow well and b) is 30 years old and requires conservative repair and capex estimates.

We live in a revters town.If I get these homes I am thinking I can do two things.One if course is to rent them out and from the rent save the taxes,insurance, cap ex, vacancies, and repairs included.

@Russell Brazil There are a lot of nice cars out there that don't break the bank for maintenance and repairs.