Updated over 2 years ago on . Most recent reply
First Post: New and Learning Seeking Guidance re: Deal Possibilities
Hello Bigger Pockets Community!
I'm a resturant owner transitioning to Real Estate Investing. I've been soaking up as much information as I can on the podcasts, youtube etc.
I think I have an opportunity however I don't know which direction to take.
I have a friend that owns a lakefront property in Massachusetts (where I'm located). It's 3062 sqf, 1/3 acre, waterfront property home with 3 beds and 3 baths. She does not want to use a realtor. She's asking 700K. Comps are 750k - 850k in the area.
Other information: The home is located 10 minutes from Gillette Stadium (home of the Patriots and Patriots Place) and a specialty outlet mall.
The house does require some repair however nothing foundational.
I'm sure there is an opportunity here to help her and myself jump into the game however, I get caught up in calculating and figuring out which deal would be the best option. PLEASE HELP I'M OVERWHELMED WITH INFO AND NEED GUIDANCE.
THANK YOU!!!!
Most Popular Reply
@Nikki Irving-Miralrio Have you run this through any STR calculators? (AirDNA). Does the seller own it outright (is seller financing an option), would the seller be open to assuming the loan? With rates where they are at now creative financing is worth exploring if the seller is willing.