Came across a property owner who wants to sell a rental property.
Tenants just moved out 1-2 weeks ago. Tax assessment is 62k. He wants about 48k for it. Firm
If you came across this deal would you go ahead with the contract or let it go?
I have cash buyers lined up, but I am only a newbie so my list isn’t too extensive yet. I have only been dealing in distressed properties, however this property is in great shape so I’m just second guessing if my numbers are correct and if there will be any money left on the table to work with.
Thanks in advance
You need to find out the actual ARV, not go off the tax assessment. This is not always reflective of the actual value of that home. It could be much more, a little more or even less.