Would You??? - Posted by BR2

Posted by BR2 on March 16, 1999 at 09:26:16:

Laure,

This is a small 2 bedroom, FMV 30k. A new subdivision w/golf course is a half block away. House is in ready to move-in condition. Rents in this area seem to be around $450 to $550. This home will easily rent for $500 or $550 (I just looked at a dump that was renting for $450, ugh!). I should have no problem l/o if renters become a problem.

Thanks for responding.

P.S. There’s also a vacant lot next to this home that I’d like to acquire.

Would You??? - Posted by BR2

Posted by BR2 on March 15, 1999 at 17:03:11:

While most members on this site wouldn’t pay FMV, I’ve found a home in move-in condition that will net $200.00 mthly as a rental or l/0.

I have never paid FMV before, but was interested in this one because of the $200.00 positive cash flow.

Any comments/advice welcome.

It depends - Posted by Alex Gurevich, TX

Posted by Alex Gurevich, TX on March 15, 1999 at 17:10:50:

If you could buy without using your credit or money, why not. Otherwise I’d pass.

Re: It depends - Posted by Laure

Posted by Laure on March 16, 1999 at 08:45:06:

My personal goal is debt free cash flow. So, I would probably concider the deal. It depends on the price of the property. Is the rent way above market rent? can you get another Tenant to pay that much in rent when THIS one leaves? How much work is needed on the property? Is it in an area that will be difficult to sell later?

Laure :slight_smile: