please help I'm in need of advice!
I'm in talks with a seller of a 2/2 duplex in So cal, here are the numbers: SqFt: 1,000 Lot Size: 4,500 Year Built: 1962
186k in estimated value
270k ARV
5-7k REPAIRS
$900/mo rent
265k-ish mortgage balance
OK, now I haven't made an offer on this property yet, the seller even mentioned he would even be open to a seller finance situation. I get the sense that he just wants to retire, and not deal with the headache to maintaining a rental property. which is why HE offered to seller finance. what should be my next move?
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#2 Multi-Family and Apartment Investing Contributor
- Real Estate Agent
- Buffalo, NY
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#2 Multi-Family and Apartment Investing Contributor
- Real Estate Agent
- Buffalo, NY
@Donnell Crowell that is a steep price for a $900 rent roll. Usually sellers are willing to seller finance because no one will buy it on the open market for the price the want. If they offer seller financing they can get a high sale price, and if anything falls through, they get the home back.
- Matthew Irish-Jones
