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Updated over 10 years ago on . Most recent reply
Newbie need advice in South columbus
Hello BP investor !
I just find this deal on the website. Before I'm going to make a call / offer the price, I need an advise from people who invest in South Columbus. Please give me good, bad, negative advise to me about the market.
Here the information:
Type: Duplex
Address:https://www.google.com/maps/@39.9857,-82.923539,3a,90y,357.93h,83.12t/data=!3m4!1e1!3m2!1s1P4dUYiH3uihSSFwJAzSpw!2e0
Listing price: $22,500
Per seller 2 bedroom 1 bath on each side. one side rented $425. Other side occupied by owner. Seller need cash. No owner financing available.
Per Rent-o-meter, 2 bed/ 1 bath can rented $525.
Per Realtor Property Resource: 5 bedroom 2 bathroom. In addition, Seller has owner finance with previous owner. The loan amount $18,500. (I assume seller didn't pay it off yet.)
I probably will get negative cash flow until excellent PM out there help me to fill up the vacancy. I will update more after I talk to the seller. For now, should I pass or keep? If I keep, should I reduce the price or pay full price? I'm trying to get first deal under my belt. Sorry if I ask too many question.
Thank you in advance !
Jason.