I know comps are the most conventional way to go. But with FHA financing being very lax, I was wondering about valuing duplexes based more on what they're producing then comps. Can someone do a rough valuation and see if my offer I reviewed would be worth it going toward as I don't really need the cash but I can use it to reinvest at 10-15% ROI.
Here's the details:
240 sumac st 19127
Purchased for 180k in 9/2014
Rents are 1300 and 1500
I was offered 325k of which after realtor fees, transfer taxes and 10% cap gains I'll net approx 95k. My current 30 yr fixed mortgage is $1350/mo. Would you keep it or flip it at this price?
anyone? The formal offer is coming in tonight. I'd like some reassurance as this is my first flip
Flip and reinvest. Have you looked into a 1031 Exchange?