Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago on . Most recent reply

User Stats

9
Posts
3
Votes
Theodore Eboigbe
  • Akron, OH
3
Votes |
9
Posts

Buying first deal: Realtor is willing to flip property

Theodore Eboigbe
  • Akron, OH
Posted

Hello, 

Been looking for my first property/home (multifamily) and my realtor came up with an idea since he also owns and flip property on the side he was thinking of buying this duplex and fix it up. He gave me 2 options:

The property current price is listed at $79900 and the seller won't budge.

Option 1: if he flips one side( the side i'll live on), replace all windows on both side and fix both of the basement and i would buy it at around 100k -110k and i will probably need to put in money on other side around 7k if i had a contractor do all the work. I plan on doing some work to reduce the amount of money i'll put into it to fix it.

Option 2: is he fully renovated both side but he planes on $129k, i will probably have to negotiate this down though since with my math it doesn't cashflow with rent being around 650-750 in the area. (i will most likely not do this since the number don't work) 

I'll probably keep searching for a deal or go with option 1 since it sounds like a great opportunity to get a property finally and work on a mini flip by fixinig up the other side. Just want to see what others think for a first deal and is there anyhtign else that i might need to consider that a first time investor should look out for.

Loading replies...