Wholesale A Duplex but Right side must be Demo’d
Hello BP Gang! Man... I have been apart of this forum for a few years now but this is my first post! I am investing in Pennsylvania currently and my question is this:
I have a gentleman who contacted me through a bandit sign who is a genuine motivated (more distressed) seller, at least I believe the circumstances would say that. To preserve discretion of the deal terms I will not include the real financial numbers.
I am looking to get under contract a duplex for an incredibly low price. It sits on a solid lot, in a solid location, and at face value just looks nice. The right side of the property however has taken severe damage (I am told from a tree) and I have asked several professionals in the industry about the repair and each one has maintained that it must be demo’d.
I’m a big follower of Kiyosaki when he said “there are deals all around us but we just need to be trained to See them”. I’m looking to see the opportunity that perhaps my experience is lacking in seeing with this deal.
Some key questions:
1. Can you Demo only one side of a duplex? (I’m told that you cannot).
2. If not, what are some options for helping this gentleman out of this situation as a whole? Are there any options? (The left side is very nice)
3. What formula would determine a fair buying price?
I appreciate any advice.
thanks!
D
P.S. Here’s a Photo of the roof. There is a rather large bulge in the side of the building as well. (I am not sure if it is appropriate to post a photo of a property I do not yet have under contract but if it is not a good thing then I will take it down).
