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Updated over 9 years ago on . Most recent reply

User Stats

7
Posts
1
Votes
Jay Turner
  • New to Real Estate
  • Winston Salem NC
1
Votes |
7
Posts

Potential deal on the table (need a nudge in the right direction)

Jay Turner
  • New to Real Estate
  • Winston Salem NC
Posted
Hello BP world I may have my first deal on the table but before I take it on I have a question as to whether or not this is a good deal. Here are the stats $113,000 estimated ARV based on comps $10,000 repair estimate (seller says $5k but I don't agree) Seller is asking $79,000 This property is pretty much ready to go (very close to turn key) the wood floors need polyurethane, roof is metal it needs to be painted and the grass needs to be cut and bushes trimmed. Other than that the siding needs to be cleaned and it's ready for renters to occupy. My intention is to make $5k on this deal. However 79k seems a little steep. Should I try to get a lower price or let it slide if I can't? The seller has a mortgage and may not be able to go lower hence why I need an experienced opinion. If it helps, It's close to Eden nc's market. Thank you for your time to whoever assists

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