How would you fund this deal?
Long story short, had an off market triplex fall into my lap from a friend of a friend. Had a horrible experience as a landlord and has been living in the place for 4 years with 2 units empty and already bought a new house so he’s paying double right now.
Asking $200k (willing to negotiate a little more)
Appraised for $230k in 2018 in current condition
$35k in renovations needed
ARV conservatively is $250k, more likely $275-285k.
Rents would be $2200-2500/month once fixed up