Updated over 7 years ago on . Most recent reply
Offer on Bank owned MF unit
Hello BP team,
I am getting ready to make an offer on a bank owned MF unit. List price is 73,000. This would be a complete gut on both apartments to include new plumbing and electrical. The property has been vacant for over 2 years and has been vandalized. Pipes were stolen along with water heaters. I am wondering if making an offer of $40,000 is too aggressive and will the bank entertain that offer? I would love to get a mortgage to purchase the house in order to apply the BRRR strategy, but not sure if I will able to get a mortgage for it. If this is not the case I will make a cash offer. Interested in hearing from the team on this.
Thank you