2 Off-market 4plex's for sale in Las Vegas, NV

[Deshawn Williams]

$560,000 asking price on a $620,000 After-Repair-Value (ARV) post cosmetic renovation. Estimated rehab is $60,000.

All units are 2 bed/1 bath, previously leased at 1300/mo. Renovated comps are listed between 1450-1500.

8.5% Return on investment/year PLUS Appreciation (when financed 25% down, ~7.3% interest).

One of the two 4plex's has water damage (may need more work).

[Bill Brandt]

Are you literally offering a $620k property that needs $60k (Or more with water damage according to posting.) for $560k? So a $620k for $630k or more?

You might want to look up wholesaling margins. If your repair estimate is right I think your asking price should be $480k?

[Deshawn Williams]

Quote from @Bill Brandt:

Are you literally offering a $620k property that needs $60k (Or more with water damage according to posting.) for $560k? So a $620k for $630k or more?

You might want to look up wholesaling margins. If your repair estimate is right I think your asking price should be $480k?

Yes sir, I’m not a wholesaler. I’m a real estate agent making people aware of a multifamily property before the seller agrees to list it on the open market. There’s always room for negotiation.

[Bill Brandt]

Sounds good, welcome to BP. Glad you found us. I might still suggest you ask seller to fix themselves or offer bigger discount, especially with unknown water damage. It would also allow the buyer to get a loan instead of paying cash. Good luck.