Quote:
Originally posted by latinasojourn
unless you're going to live in it, rental property value is based strictly on ROI, throw emotion to the wind.
there are many factors to consider, such as:
1. location
2. any rent control ordinance now or proposed
3. neighborhood change factors---is neighborhood improving or declining---who's moving into neighborhood, is city population stable, increasing, or decreasing.
4. your current tax situation
5. what maintenance is required now to getting ready for rent-up
6. quality of financing
7. true rental or lease value to compute gross multiplier, and comps (you need true data on comparable sales in the vicinity---which can be found in MLS)
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yeah. after the first post. my realtor called back and said it was a great deal.
providing the property is up to par
i do expect to have to do some prep.
as i did the others.
like i said. i just wanted input on the initial offering.
i'm pre-approved (not pre-qualified) for the mortgage on it