Chris Toedter Professional from Clifton, New Jersey posted 9 months ago I am looking at a property to buy this is the break down. Original Listing Price : 700,000New Listing Price : 650,000Taxes : 11,500Insurance : 2300 Rental Income $7,600 Only thing is the SELLER knows it will appraise for around 600k and he is firm on 650k is it a bad investment to pay the difference in Cash to make up the difference???
Bjorn Ahlblad Investor from Shelton, WA replied 9 months ago @Chris Toedter It is a pretty skinny deal when you look at all the numbers. I'm guessing it is seller carry? Is there an opportunity to put on a little lipstick and raise the rents as units turn over. I'd say paying 50 over is unwise-you need that for reserves and light rehab. Seller may not be so firm when he sees you walk.
Bill Brandt Investor from Las Vegas, NV replied 9 months ago If the seller will carry enough of the price at zero interest you can figure out what amount equals paying the $600k price with a regular bank loan. IE. I’ll pay $600k and get a bank loan or I’ll pay $650k if you finance $100k, interest free for 100 months. Or something like that.