Potential deal, need advice on approach
Hey BP,
Need a little advice. I'm BRAND NEW to Real Estate. A coworker of mine bought a home about 6 years ago for $30k from the bank and has been living in it since then. He stated he's been performing DIY projects on the home during that time period. The home is paid for outright. He estimates his home value to be circa $100k. I think it could POSSIBLY be more with professionally completed upgrades but haven't seen the property nor pulled any comps for the area yet. He is considering the possibility of selling, but I don't want to botch this potential deal.
Can anyone help or advise me in approaching this situation? What things should I gather in order to figure out the best potential profit margin for both of us (ie. Win-Win situation)? I hope that's the right question to ask.