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Answers (1)
- Derek Zasaretti, "Derek_Zasaretti"
- Contributions:343
Don't break the bank. Is the rental return worth the investment? If you put $40k out and get a return of $1000 a month - any costs you have to pay insurance, sewer, maintenance, etc . It would take at least 6 years before you see your initial investment. Try to find a multifamily for a good price. A single family at that price is really a risk. I see one @ 3020 Georgia 4bd 2 bth priced @ $19000. This may be a good one to section 8. Evaluate the repairs and make your offer accordingly.
I also see a lot of mobile homes, if these are common, there are a few in the <$12000 range. Look into those and evaluate the repairs and the rental return. Email me if you have any questions.
I also see a lot of mobile homes, if these are common, there are a few in the <$12000 range. Look into those and evaluate the repairs and the rental return. Email me if you have any questions.
Are there any tips/pitfalls buying a $40,000 home as income property in Vallejo?
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