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Updated over 1 year ago on . Most recent reply

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Mike Brown
  • Rosedale, NY
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I have a dilemma 3 duplexes thinking of selling

Mike Brown
  • Rosedale, NY
Posted

I have 3 duplexes in Wichita Kansas. 1 is fully rented the other one side is occupied the other vacant. The third duplexes requires repairs. Property manager is telling me that duplexe is in need of over 20k in repairs. But he still haven't gotten me a solid number. By June I'll be matured in my mortgage grace period to do a refi cash out. Solo investor so my funds are fully stretched. Got an offer to purchase today for 185k for all 3 based on the math. I'll be pocketing 30k which is for less than my 20 percent deposits at time of purchase on each. I'm thinking of riding  and do my cash refinance on all 3 since interest rates or supposed to be taking a dip this year. Any advice is greatly appreciated 

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Michael Smythe
#3 Classifieds Contributor
  • Property Manager
  • Metro Detroit
2,874
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Michael Smythe
#3 Classifieds Contributor
  • Property Manager
  • Metro Detroit
Replied

Will the properties appraise for what you need for the refinance based upon the current repairs needed?

  • Michael Smythe
business profile image
Logical Property Management

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