Ideas On Offer Price?

[David Wurzel]

Here's the scenario:

Property: B-C

Tax and Nuisance Liens: $8k

Owner owes PM: $2K   (plumbing was redone)

Property Is Free and Clear

Current Rent: $700  Solid 5 year rental history

Average of 6 Comps:  $50K  (pulled from Realquest)

Owner wants to walk away with $25K in their pocket

Good deal, bad deal, offer price in order to wholesale?  I have no interest in buying and holding.  Looking to wholesale. 

[Carolina E.]

@David Wurzel you can usually always find something that needs repairs when a tenant has been there that long.  I highly doubt they will be able to come out with 25K.  Your first offer would be around 25K if it was in good condition.  When wholesaling make sure that you have them pay what is owed on the property, taxes, lien etc.