First Whole Sale Deal
I have a possible wholesale deal and the owner owns it out right and is offering seller financing.
He is selling it because he has had it 18 years and is tired of being a landlord.
It is a fourplex with two 2/1's and two 1/1 studios
Gross rents have historically brought in $575 for each 2/1 and $350 each for the studios
I am guessing if you go low on the rents, and do $500 each and studios $300, they would be likely to rent easily.
Area is much sought after. Units are turn key. He has rehabbed well and it is ready to go.
He is willing to do seller financing with an asking price of $140,000 and 5% over 30 years with payments approx 670 a month.
He says he is open to folks buying outright or doing his financing, so I felt it is a decent opportunity to look at wholesaling.
I don't really want another rental right now, but would love the opportunity to wholesale it.
How do I present that opportunity to other investors that may be interested? The seller just did not want to deal with a real estate agent, which I am not.
I would love to get it under contract without coming off like an idiot.
Suggestions as this appears to be a decent cash flow option.
Mary