Found a deal, need help determining what offer to make
Hi BP,
After listening to a million BP podcasts, and getting motivated by @Brandon Turner's 90 day challenge. I went out and found a deal. I started driving for dollars, saw a house, located the owners phone number using https://www.truepeoplesearch.com/
I called the owner he said he is ready to sell, to make him an offer. First, I was going to wholesale it, then spoke with a friend/possible business partner and he said hell no, let's flip it.
I went out and checked it out. it is MESSED UP. That is an understatement.
I got scared and left. I ran the comps. Most of the properties sold this year and for just over $800,000. When I averaged out the SQ footage it came to about $360 per square foot. The sq ft is 2289. it's a 5/3, triplex. This one street is not a super nice street. It's getting there, but is far behind some nearby streets. My friend works in roofing and he said the roof needs to be replaced. As you will see from the video it needs a complete redo. On the video I laughed when he said it smells like piss, because on a lot of the podcasts the investors love the smell of piss saying it smells like money. LOL.
Anyway, my friend went out and took video.
He said he would offer $250,000 cash.
any thoughts or suggestions would be appreciated. This would be my first deal.
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