I was just looking into this one for another client of mine. It is kind of a mess. Termite work, septic issues, etc. Plus its a short sale and the seller intends to retain the current tenants' deposits... ugh! If you need help finding other property, feel free to give me a shout, I would be happy to assist you.
Well it may be a good investment. if the numbers provided for rents are correct based on 25% down, you should achieve a ROI of 18%, Cap Rate of 8.5% and a GRM of 8.64. These all appear to be good but you would have to do further investigation into the financials and condition of the property.
If you would like to pursue this farther please contact me and we can discuss how to proceed.
It depends on what your investment goals are. Are you looking for something to hold for a long period that has good cash flow? Are you looking for something to sell at a profit in a short time? And what kind of return and cap rate are you looking for? Your tax situation also factors into the equation. It does seem to have a pretty good cap rate but without knowing more it's pretty hard to give a good answer. If you'd like to talk more I have good experience in financial analysis and can help you find a property to fulfill your investment goals.
Jill Miranda - DRE #01413799
Pacific Sotheby's International Realty