Posted by Miss Young on September 07, 2003 at 15:08:30:
6 Properties with FMV $75k Resale Potential $85-95k Seller is asking $50k each for 5 and $20k for 1(gutted property) Total numbers: FMV $75k x 5=$375k; Asking price: $50k x 5=$250 + $20k (gutted property)=$270k
The 5 properties are currently rented with monthly income of $3,070. (FYI: the $270k asking does not include an amount to rehab the gutted property)
Should all 6 be purchased or just purchase the 5?
If all 6 are purchase how would you finance the guted property?