Investor · St. Paul, MN · Member since 2014 · 109 posts · 37 votes
Hello BP,
My close friend has agreed to sell his house to me at a GREAT deal. He's looking to sell me his home for 170k (valued roughly 200k-210k) with a fantastic cash flow opportunity. He purchased it for 130k and would love to profit 40k and just exit - the basement needs some work and he's looking to upgrade w/ his significant other.
Would you offer 190k and have your friend kick you back the difference of 20k? This way I'd essentially have no money down and extra cash on hand to fix up the basement (plumbing issue, 8k-10k, 4 bidders so far). Or would you just put in the agreed price of 170k.
This is my 3rd property and on paper I feel like 170k would show a higher cash flow. But I don't know what others would do.