Wednesday, July 14, 2010
Wholesale Deal #1
This house is at 3801 Larchmont Lane in Richmond. It sits on a corner lot and has a very nice (large for the city) level lot. My first rehab bid came back lower than my estimate. That was good to see. I know my second will come back higher.
To anyone interested, I can serve as the project manager for this property and ensure that all the repairs are done correctly. Also, I have already contacted the property management company to potentially manage the house.
The estimated rent for this property is $850 to $950. With a minimal cash out of $7k (65% Loan to Value), you are looking at a potential positive cash flow of $204 a month.
Not to bad. The actual deal is posted in the DEAL link to the right of this blog. I will be placing ALL the deals there.
Contact me if you are interested.