This is a 3 bed 2 bath 1120 sq ft SFR, our plan for this property is to perform a minimal cosmetic rehab and then to rent the property. We expect the renovation to take approx 3-4 weeks and to have tenants in place in less than 1 month.
We are familiar with rentals in the rental market here and have applicants from other properties pre screened and on a waiting list. Following the renovation and stabilizing of the rents we plan to refinance into a long term rental loan within 6 months.
The scope of work includes a light cosmetic renovation including new interior and exterior paint and any necessary repairs. New bathroom vanities and cleaned
Purchase Price $407,000
After Repair Value $535,000
Buy In $65,000
Projected Return 12% Annualized
Projected Timeframe: 6 months