How Does These Numbers Look?
I came across a deal from another investor who is will to sell his rehab wholesale, which he tried to sell retail,but mostly got calls to rent.
fmv = 74k
asking = 58k (will finance closing cost,so it will be 60k)
rent = 800/mo (even 825 thu hud)
repair cost = $0
*there is a commercial right across the street,giving this one potention to lease commercial later on.(this area has older home as business)
*there is vacat land to the right of it for potention to build on later.
*i will be getting this no money down
4/2, detached washer/dryer room,1150sft, down the street from a fractory.[ Edited by Paradisecity on Date 03/31/2004 ]
As long as you have a renter ready to go, it sounds like a good deal. I am assuming that he already did the rehab on the property. If not make sure that the rehab costs arent going to be more than the fair market value of the house. As soon as you get it under contract I would start advertising it for rent.
Good Luck,
Kyle