Here is my deal, what would you do?

2 Replies

Looking at a 2/1.5 condo purchase for rental.

List price is $129.9, which I think is about $10K overpriced. 

New appliances in kitchen, granite countertops, ceramic tile, new carpets - nothing needs to be done to unit but clean carpets - cats....

Expect it to rent for $1,100-$1,200 so should cash flow nicely.

Question - I'd like to try to buy the unit fully furnished - couches,washer/dryer, everything but the mattresses and box springs.

I know I can't put the furnishings in the offer price for mortgage, but would provide a separate cash offer for those.

I am thinking about structuring an offer like this:

Open at $115 for the unit unfurnished, seller to steam clean carpets plus a couple thousand cash for the furnishings. Expect a counteroffer....

If you were seller, would this interest or offend you?

@Jeffrey Cervi  

Hello,

  Don't worry about offending the seller remember you are in this to be successful and make money! The way you are structuring the deal sounds good to buy the furniture on the side but I would start lower than $115,000 for the condo! Lets see how motivated this seller is! 

i'd pass. this is still too high. it's a 2 bed, not 3. 

all our houses are below 100k and get that rent without a problem. i personally would offer under 100. if you do not offend them, you are paying too much.

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