Real Estate Agent · Manhattan, NY · Member since 2019 · 14 posts · 0 votes
Hello All,
I need extreme help!
I am getting an offer to buy a three-family house for 127k. The person who is looking to sell says it comps for 235k. I want to buy and hold it but the thing is I don't have the money for a down payment. I wanted to maybe hook up with an investor in the area to learn the ropes and maybe do a deal with. I also don't know how to figure out if its a good deal or not.
Please if anybody can help out that would be much appreciated!
@Bryan Otero Are you familiar with the area? Any issues with the property? Is it currently occupied? If so, what are the tenants paying? Tenants could be paying below market rents. Are the tenants paying for all utilities? What are the area comps (check Zillow)? Are you willing to house hack? If so, your down payment could be cheaper.