Found an off market deal. Need help
Hi Everyone,
I recently found an off market deal and will be touring the property on Thursday.
They are asking 150k for a 2 unit that needs some rehab. I have a realtor but i assume since the deal is off market they would not want to work with a realtor because of the commision. I am looking for guidance on what i should look for and what numbers make sense. I spoke to the owner and he said that he has the 1st unit rented for 800 and will be rented in July. I assume the 2nd unit rents for the same price. I will be using an FHA loan and owner occupying the property.
I don't want to get my realtor involve since it is off market and might scare the seller. I've attached the link to the property. Asking for help from the community analyzing it as much as possible. I will be taking pictures in person Thursday but i went in person and it looks like just some minor painting.
Let me know what you guys think!
https://allentown.craigslist.org/reo/6882462481.ht...
https://www.realtor.com/realestateandhomes-detail/738-N-19th-St_Allentown_PA_18104_M32688-23186
Most Popular Reply
Have you been talking with the owner? That post looks like it's a wholesaler, in which case the $150K is probably net to the seller and wholesaler. If you involve your agent, you're likely paying their commission on top of the $150k.