March 18, 2013
Returned from a trip to Indiana. I looked at a bunch of properties, and ended up making offers on three single family houses. I liked this one the best:
It is a cute 2+ 1, 1,041 sq ft, with a large backyard. It was remodeled in 2010 with new windows, a new roof, remodeled bath, and more. It is a short sale that was drastically reduced to $25,000. I offered full price for it, and the offer is now with the bank for approval.
A little house like this will rent for $695 a month. After all expenses, net profit per month should be around $475. This is a 23.5% return. I like it!
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