I have not posted here in a few months but just got offer approved and thought I would share.
The Deal:
3/1 in Ohio
Great area
arv is 45-50k
rents are 650
Needs maybe 2k in repairs
bought it for $8,500
from bank asset manager off the 400 they sent..OMG
I will lease option it for 2.5k option fee and 700 per month for three years (then sell for 50k) That's a .98 cap rate the first year and I can't even figure the total return because of the other two years and the buy out at the end...
I have not posted here in a few months but just got offer approved and thought I would share.
The Deal:
3/1 in Ohio
Great area
arv is 45-50k
rents are 650
Needs maybe 2k in repairs
bought it for $8,500
from bank asset manager off the 400 they sent..OMG
I will lease option it for 2.5k option fee and 700 per month for three years (then sell for 50k) That's a .98 cap rate the first year and I can't even figure the total return because of the other two years and the buy out at the end...
Not having a goal is worse than not setting one..
http://www.deangraziosi.com/real-estate-forums/investing-journals/92139/... -
http://www.deansmedia.com/play.php?vid=266