Updated over 11 years ago on . Most recent reply
Need advice! Trying to structure a deal.
Here's the low down! 3/1 Single family rental property in the area. Already rented, netting 850/month or a little over 500/month after taxes,insurance, repair allowance, and property manager fee. Owner's paid 35k for the property and has already put money into it, carpers, cabinets, HVAC..ect. No repairs needed at this point.
They want to get out of the property, no longer interested in real estate at this point. So the plan is to eat the repairs they put into it, and sell it for the original purchase price. So I'm looking at a ARV of 50k and they want 35k.
How do i structure this to make anything? The price they want is what investors will pay (50k*.70)=35k.