OfflineFrom your experience... would a buyer be interested in the following:
SFR 3/1
ARV 39k
Buyer would pay 25k
2-3k repairs needed. Light work
Potential rent $1,000-$1,200
It is in Fort Lauderdale, FL 3 Miles from the beach!
Problem: Neighbor is 100% not the best in terms of crime.
I know the crime is not good... But They could rent it out using section 8 and get steady rental income.
Thoughts?
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An investor who is comfortable with troubled areas or is actively investing in that area that you referred to would probably be interested. You would need to specifically market to investors like that. Landlords usually don't like troubled areas(D areas) because they are management intensive and can cause a lot of headaches. But, that's what management companies are for.
Is the neighborhood bad?
RENinja
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I for one don't like troubled neighborhoods and I grew up in East St. Louis.
Wouldn't invest there though. But I couldn't get a house near a beach or that kind of rent either.
Best Wishes!
Rodney
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You're looking at about 72% of ARV (28K/39K), not amazing, but might be OK.
Now the ROI is good. Approximating insurance, taxes and prop mgmt to be 250, so if rent is 1000, then 750 x 12=9000/28000=32% ROI.
If a landlord doesn't mind the neighborhood issues, it could be attractive.
Blessings & Favor,
Gena.
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