Can This Deal Be Structured Another Way?
BP,
I just made my first offer on a property with the intention of wholesaling it out.
FMV is estimated at $150k, which by the way is the asking price from the seller.
With the advise from some of the other BP members, factoring in having to apply a new roof, along with other minor repairs / cleaning and fixing. I have offered $71,800 cash.
The Seller declined, stated that it was less than half of the stated asking price.
Currently, the property is being rented out for $1400.00 and the seller has stated that the tenants are willing to stay.
So, opinions or options please? Is there another way I could make a counter offer on the property so that it would still be attractive to an end buyer and priced accordingly to leave room for a small assignment fee for me?