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Real Estate Deal Analysis & Advice
HomeForumsReal Estate Deal Analysis & AdviceOVERPAY FOR A PROPERTY SMART IDEA?
Sebastian Hernandez's profile image
Sebastian Hernandez's profile image
Sebastian Hernandez
  • Contractor
  • from Morris County, NJ
  • Member since Mar 17, 2020
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Sebastian Hernandez's profile image
Sebastian Hernandez's profile image
Sebastian Hernandez
  • Contractor
  • from Morris County, NJ
  • Member since Mar 17, 2020
Connect
Sebastian Hernandez
  • Contractor
  • Morris County, NJ
92
Votes |
186
Posts
Real Estate Deal Analysis & Advice

OVERPAY FOR A PROPERTY SMART IDEA?

Sebastian Hernandez
  • Contractor
  • Morris County, NJ
Posted Aug 5 2020, 07:35

Good morning Community! 

I am reviewing a deal here is Nothern New Jersey to buy a duplex and in my analysis I find the following. Based on the data gather through Zillow and the tax assessor website, I find that similar properties have sold for $340k and some below. However, there is substantial amount of competition in the area for multi family properties.

Any thoughts/advice on overpaying for a property in a competitive market? The property would still Casflow and I would pay about $10k above asking price so about 350k. 

Really appreciate your help community!! 

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