Property Description:
The house is currently rented for $920 until May 2017. The tenants would like to stay beyond that and a rent increase could be worked out.
The roof was replaced last year and is in good shape. Foundation seems level from walking the property and looking for cracks and jammed doors. HVAC is working and appears to be fine.
Overall the interior isn’t in great shape as the tenants have animals and have converted part of the garage to living quarters. Paint, flooring, kitchen update, etc would be needed to bring the house back up to higher ~$1,300/mo rental status.
Financials:
ARV: $135k – $160k (there is a house the same size/vintage AOC listed at $160k)
ARV Rent: $1,200 – $1,350
Rent Rehab: $15k
Flip Rehab: $25k
Purchase: $105k
Rental ROI: 8% +
Terms:
Cash or Hard Money Only
$5k Non – Refundable Deposit required
Buyer to pay closing costs
Agents add your commission to sales price
https://drive.google.com/drive/folders/0BzliIr_-2JV4YmhFWk9QclQ4VWs
