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Updated over 2 years ago on . Most recent reply

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11
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Steve Wolfrey
  • Contractor
  • Framingham, MA
5
Votes |
11
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Motivated seller. Offer help

Steve Wolfrey
  • Contractor
  • Framingham, MA
Posted

Hi, 

So I have a deal that I am looking for some guidance on. Duplex (1st floor retail, 2nd floor 2/1 apartment). Seller is putting off the vibes that they just want to get rid of the property but aren’t going to give it away. Current list price is $400k. Needs approx $30k in rehab. If total Projected rents are $2700/mnth. Taxes $3600/yr. What would you offer if you wanted it to cash flow with a standard down payment? Numbers don’t work without low balling but figured I would ask the BP crowd to see if I am missing something. Any owner financing ideas to make it cash flow?

Most Popular Reply

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13,476
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19,546
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
19,546
Votes |
13,476
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
Replied
Quote from @Steve Wolfrey:

I know the seller is motivated because they were present and leading the property tour. I guess what I am asking is based on the few numbers I provided what would people offer for it to make sense to them. I apologize for this being an unanswerable question. 

...except you're missing the most important number.  How much does the seller still owe on the property?

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