Updated almost 10 years ago on . Most recent reply
Potential deal - Michigan
I was wondering if somebody could help with my decision on a deal. I found an investor in Michigan who is currently trying to sell off half of his portfolio. One particular deal sounds very good to me. The property I am looking at is a duplex, but it was build around 1820! What are your experiences when it comes to homes this old? The asking price is 50k. I would say it's a C area. I verified with the tax assessors office that the home has been in their portfolio since 1990. I am planning to pay cash for the property. Do you think I should negotiate for a lower price? The seller is a real estate agent. Please see his cost analysis below:
I talked to him on the phone and he seemed very professional and nice. He straight up sent me all the profit/loss statements for all the other properties he is planning to sell. What are your thoughts?