wholesale or rent to own? 1st Deal
Just talked to my first potential seller. He has a 3 family for sale. FSBO.
Gave me his asking price. I don't have the cash to buy it out right. I'd like to wholesale straight; however, as seen in the photos, it isn't in bad shape. It might very well be near ARV. Two of the units are currently rented with one tenant being there for 3 + years. I'm not sure if I can wholesale that to another buy and hold investor.
Seller would entertain seller financing. Maybe I could whole sale the seller finance package to another investor. or take the property myself under seller financing and become the landlord.
Price is $174,000 … Monthly income about $2450 per month. $28,000 per yr
Taxes $3500.
Thanks for your help! Trying to see if I can structure a win-win here.
Matt