Jim Viens Rental Deal

 

Jim Viens Rental Deal

Integrity Property Solutions in Kansas City, KS
Jim Viens with Kim Viens

Found this sfh (converted to a duplex) on the MLS. I went through the Agent Lead Sheet with the listing agent and gathered as much info as I could. I checked rental rates in the area to see what rents I could get once it was rehabbed then scheduled a walkthrough with the listing agent. I went through it with the Rehab Estimator and came away with and idea of repair costs. I made an offer for $20,000 under list and was informed that another offer was coming in. I knew my numbers well enough to know we could go higher and still have a good deal so I upped my offer to $70,000 (still $10k below list) and it was accepted! We're paying cash right now and will refi that out once we have tenants. Once we have the mortgage in place it should cash flow about $1000/mo with a 14% return! Now for the reno and getting tenants! Deal #1 DONE!

Rental Details

Property City: Kansas City
Purchase Price: $70,000

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Case Study

How did the FortuneBuilders team and resources help you to accomplish this deal?

The Rehab Estimator and Agent Lead Sheet were both very instrumental to me having the confidence that I had all the data I needed to make a good decision.