Posted by James Harris on March 10, 2001 at 24:57:41:
Sell it using seller financing then sell the note for cash at the table. I would be more than happy to purchase the note.
Need help marketing a duplex - Posted by Thomas
Posted by Thomas on March 09, 2001 at 10:28:31:
I?m a new wholesaler in the Baltimore, MD area. Need some help with unfamiliar territory (duplex). I had a seller call me about a duplex he wants to sell (extremely motivated). His wife is pregnant, and he doesn’t want the hassles of being a landlord. The funny part is he has a property manager who definitely isn’t earning his money. The duplex is a 2bd, 1bth + 1bd, 1bth. Current annual income $9,360 (rent 6% below market), annual expenses $1200 ($960 property mgr.,$240 water), vacancy rate $468 (no vacancies in two years but I figure 5%), Net operating income $7,692. I estimate its worth between $70K-$74K. The owner will let it go for 54K, but doesn’t want to carry a note. What would be the best way to market this property to find an investor/landlord?
Thomas