Updated about 18 years ago on . Most recent reply
I think I found a winner!!
We found a 2 family property asking 115K. We will offer 85K and keep out fingers crossed he accepts. We have spoken to a contractor, for rehab. His estimate is 70K, that includes turning it into a 3 family and adding a coin op laundry room. ARV will be 220K per realtor. FMR are $650-700 X 3 units. Annual taxes are apx $2500, unable to obtain water/sewer at this time. After all is said and done we will have a brand new 3 family home in a decent neighborhood for 155K. This will be our 1st deal, what do you guys think???? I think if we go over 10K we will still be OK.