Offer accepted on my first deal.
Hello all,
Late last week I heard from the sellers that my offer was accepted on my first property. I found a triplex in the Dallas Fort Worth area with an initial asking price of just under 100 thousand dollars. I put in an initial offer of 85 thousand dollars, the seller countered and I re countered and we ended up agreeing on 87 thousand. I had the inspection done and wrote up an amended offer for 70 thousand and the seller decided to accept based on the necessary repairs. This deal will allow me to live on the property for free as well as have positive cash flow of over 300 dollars a month. I will be restoring the detached apartment on the property while I live there and expect to have a substantial equity increase due to the restoration. My property is just a few miles from the down town area.
Michael