Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago on . Most recent reply

User Stats

46
Posts
7
Votes
Lauren Norman
  • Flipper/Rehabber
  • Union City, NJ
7
Votes |
46
Posts

Deal analysis Clifton NJ

Lauren Norman
  • Flipper/Rehabber
  • Union City, NJ
Posted

I talked to 2 siblings who's mother passed away. Brother wants to keep the house and rent it out. Sister prefers to sell it. They are currently renting it out for $5k/month in Clifton New Jersey. They are asking $599k for it which seems high. It's 4000 square feet (biggest house on the block which is why I can't seem to find any comps) and in good livable condition (small remodel job last year but all original 1960s details have been kept) 4 bedrooms, 3 bathrooms, 2 car garage in a good school district with a mother in law unit with 2 full kitchen. 25 minutes to NYC. 

What I really think they need is a property manager, since neither live close by, and it sounds like they don't really want to sell, but they also don't want to be a landlord. I'm a wholesaler, but this is definitely not a distressed house. Any ideas how can I help in this transaction and also make a small profit? 

Most Popular Reply

User Stats

807
Posts
815
Votes
Pratik P.
  • Flipper/Rehabber
  • Sacramento, CA
815
Votes |
807
Posts
Pratik P.
  • Flipper/Rehabber
  • Sacramento, CA
Replied

When I get sellers who want to sell at retail,  I refer them to an agent that I know.  If they end up listing with the agent,  the agent gives me a small referral fee.  

But it sounds like they first need to agree on what they want to do.  

Loading replies...