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Updated about 6 years ago on . Most recent reply

User Stats

48
Posts
13
Votes
Jamin Olds
  • Investor
  • South Haven, MI
13
Votes |
48
Posts

What would be your top dollar offer for the following property?

Jamin Olds
  • Investor
  • South Haven, MI
Posted

Hey BP - 

Looking for some advice on what would be your max offer for the following property.  Here is the basic numbers: 

Asking Price $85,000

3 Unit: Unit 1: 2 Bed 1 Bath    Unit 2 & 3 1 Bed 1 Bath

Unit 1 Rent: $600

Unit 2 Rent: $500

Unit 3 Rent: $500

Total: $1600 mo.

Expenses (Monthly):

Insurance: $40

Water: $95

Lawn/Plow: $40 (Small yard) Would actually mow this myself but still budgeting a small amount.

Taxes: $210 

Repairs: $100 estimated - property is very well maintained. 

Management Fee: $0 Self manage

Tenants pay electric & heat source is electric. 

Total Expenses: $485

I have to have my best and final offer in asap and I do not want to lose this over a few dollars.  What would you offer as your best and final? 

As always, thank you for the help and input!

Jamin 

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