Posted by JohnBoy on February 22, 1999 at 01:26:01:
How much will the seller take for the property in it’s current condition and how much will all the repairs cost?
yet another newbie question…help please! - Posted by Alicia Stl
Posted by Alicia Stl on February 21, 1999 at 19:54:15:
Hello,
We found a 3 unit, owner will finance. She lives in the 3 bedroom townhouse which only needs aesthetic work, but the 2 one bedroom units need major repair, which she does NOT want to deal with. When done, it’ll be worth about 70K… what’s smart here? I was thinking about negotiating a down payment that would be very little cash and then a repair credit, we can do the work and then flip it… or should i get a contract and then either flip it to a rehabber or lease option to an owner occupant? All I know is there’s an opportunity here. The place would rent for about $600/ and 350 and 350.
Thanks!