Saturday, February 23rd, 2008
As promised, I am updating our first deal.
We purchased a house for $74,600. The monthly note on this guy is $745 per month.
Now, it should appraise for $113,000 which is a profit of $38,400 if we sell it outright (flip). Or, if we rent the property, the average rent for this part of the country is about $850. This leaves us with about $105 a month positive cashflow.
What do we do? I would like everyone’s feedback on this. Jump in and let me know what you would do!
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