Real Estate Investor · Miami, FL · Member since 2014 · 27 posts · 11 votes
From my previous post, i was able to obtain the address of property and so here are some of the numbers:
2BD/1BTH
1327 SQ FT
ARV- $356,798
ASKING PRICE- $360K (NEGOTIABLE)
REPAIRS- $20K (estimate)
Seller: Technically free and clear, however it is collateral on another property, but the bank is ok with a sale so I can pay off the loan.
Reason for selling? Heading back to Ft Lauderdale, LOVE my house, but my life (after 14 years in FtLaud) is really up there.
Does it need repairs? Needs exterior work, paint & Windows.... beyond that minor inside stuff, like a new fridge would be good and probably new stove
Seller: I do have a number in mind and I know that folks like you usually low ball the offer.
From some of the photos, there is some updating to do.
I am thinking about offering 280k with terms, since it doesn't have a mortgage on it.
i do believe i can negotiate the price with the owner, i want to find a way to do a sandwich lease with this one, i believe i can make a profit with this one with tenant buyer. is there anything else i a missing? would love your input.