Real Estate Deal Analysis & Advice

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Holly Horn
  • Seattle, WA
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Would you do this deal?

Holly Horn
  • Seattle, WA
Posted Aug 1 2019, 07:50

I have a seller looking to sell their duplex. Here are the stats:

-Recently appraised for $330,000

-Rents are $2550 total

-Tenant pays utilities except water and sewer

Perhaps $200 for both a month

-Seller has a retaining wall issue he claims to have a bid from a contractor for-$8800

-it was a flip that didn’t go as well

-looking to get rid of it and pay off $200,000 in loan debt, and $50,000 in CC debt.

Thoughts for seller financing or private money offers?

My best thought was to buy the property for $250,000 -$275,000 through my broker. That would pay off everything he needs and give us some room for equity. Not sure if he would take that but it could be worth a shot.

Any suggestions or thoughts are greatly appreciated.

Warmly,

Holly

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