Look at this Short Sale I'm considering
Hello all,
New to this forum so please tell me if my formatting is off.
I found a deal that I am currently under contract with for $150,000. 4 Bedroom, 2 ba SFH in a C- part of Philadelphia. I am planning on financing 80% @ 4.5% through a bank. There is a $10,000 assist on the deal as well. Taxes are $3k/yr and I estimate $8k in repairs. The objective is to hold long term and rent.
While the bank deliberates, I've been researching rents and it seems like $1,800 is conservative. Two questions:
1) How does this deal look, from a high level perspective?
2) I am considering a partner in this; as a Real Estate Licensee I am getting a commission with this deal; how should I proceed with that? Keep the commission for finding the deal, negotiating etc. and disclose? Or take it off the top end of the deal?