I am getting the itch to buy a rental again and checked out a property tonight.
Here are the specs.
FMV 120
will offer 80 tops
bank owned
Rehab issues-
1. carpets- need shampooed, other than that, already up to rental standards
2. water is puddled under the water heater. The water is shut off to the prop, so this could be broken pipes, ruined water heater, or just from winterizing and draining it out. Not very concerned, I enjoy doing a little plumbing
3. heavy cigarette smoke odor throughout even though vacant for almost 6 months- any tips on removing this?
Action plan(if wife is ok with it)- offer this week so bank is more likely to accept lower offer, end of the month and all.
Fix plumbing and smoke flavor next month.
Rent out in Oct. for around 800/month. With these numbers, should cashflow around 100-150/month easy. The better upside, 80k in, appraise for 120k, LOC of 96k, just increased my buying potential by 16k
Any ideas on the smoke awhile, I would be interested in reading.
Here are the specs.
FMV 120
will offer 80 tops
bank owned
Rehab issues-
1. carpets- need shampooed, other than that, already up to rental standards
2. water is puddled under the water heater. The water is shut off to the prop, so this could be broken pipes, ruined water heater, or just from winterizing and draining it out. Not very concerned, I enjoy doing a little plumbing
3. heavy cigarette smoke odor throughout even though vacant for almost 6 months- any tips on removing this?
Action plan(if wife is ok with it)- offer this week so bank is more likely to accept lower offer, end of the month and all.
Fix plumbing and smoke flavor next month.
Rent out in Oct. for around 800/month. With these numbers, should cashflow around 100-150/month easy. The better upside, 80k in, appraise for 120k, LOC of 96k, just increased my buying potential by 16k
Any ideas on the smoke awhile, I would be interested in reading.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
O jewi piwis ciip op e siqu xovj qeopv vjot podi epf desqiv vjot podi. O xuamf piwis qeopv ov vjot podimz.
