ilmscore | Was $1,250 too much to give to buy this house?

Was $1,250 too much to give to buy this house?

Published: 2018-06-21
Status: Available | Analyzed

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Unrated: 0
Prediction
Topic
Status
The speaker plans to own a property, rent it out for 2-3 years, then refinance it with a bank to collect the profit between $950/month and market rent.
"I can do is own the property rent it out for two to three years take the pro forma or the cash flow statement to a bank they'll refinance it out and I'm still stuck paying maybe 150 bucks a month with the goal of collecting the profit between nine hundred and fifty dollars a month and the market rent for this place"
Real Estate Investment Strategy
Pending
The speaker estimates spending $5,000 to $10,000 to fix up the house.
"I'll spend at least five thousand dollars maybe ten thousand dollars fixing the house up"
Real Estate Repair Costs
Pending
The speaker estimates the house's value to be $75,000 in its current location.
"this is probably a seventy-five thousand dollar house in this part of town"
Real Estate Value
Pending
The speaker anticipates needing to redo the roof and potentially replace the furnace.
"the roofs bad so we have to redo we have to recode the roof where you do a good bit of that the top of the house has asked for shingles it needs to be replaced I might be I might be into it on a furnace"
Real Estate Repairs
Pending
The speaker plans to complete necessary repairs within the next two to three months.
"so those are all situations and things I have to repair in the next two to three months"
Real Estate Rehab Timeline
Pending