Clifton NJ Deal Analysis
I talked to 2 siblings who's mother passed away. Brother wants to keep the house and rent it out. Sister prefers to sell it. They are currently renting it out for $5k/month in Clifton, New Jersey. They are asking $599k for it which seems high. It's 4000 square feet (biggest house on the block which is why I can't seem to find any comps) and in good livable condition (small remodel job last year but all original 1960s details have been kept) 4 bedrooms, 3 bathrooms, 2 car garage in a good school district with a mother in law unit with 2 full kitchen. 25 minutes to NYC.
What I really think they need is a property manager, since neither live close by, and it sounds like they don't really want to sell, but they also don't want to be a landlord. I'm a wholesaler, but this is definitely not a distressed house. Any ideas how can I help in this transaction and also make a small profit?