Posted by Redline on February 20, 2001 at 16:49:27:
70% of $125k = $87,500
80% of $125k = $100,000
90% of $125k = $112,500.
So how do you figure offering $118k on a $125k house is “about 78%” of market value? Actually it’s about 94.5%.
To buy this to hold, and I presume rent will depend on how much rent this house will bring in - and how much cash flow it’ll throw off. Run the numbers - but this doesn’t look like a deal to me.
You’re basically paying RETAIL. Why?