Need help negotiating a deal!

[Stephen Bruce]

I am touring a duplex tomorrow that is IMO a great investment opportunity. I have crunched the numbers using the 4 square method on BP YouTube channel. Everything adds up but there's a catch, I calculated my purchase price and rental rates not the asking price and current tenant lease rates. Here are the numbers:

Asking Price $169,000; Market time: 156 days, offers: 15 plus (all below 150K), Current lease: Duplex 1- $580 (till July 2023), Side 2- $630 (till Sept 2023)- the current owner has rarely increased rent because she feels bad asking more from her current tenants of 5 years and 14 years; No HOA

I am going to offer 150k and eventually up the rent to side 1- $830, side 2- $680.

Where I need help is negotiating with the selling agent on getting the price down to $150k. I have spoken with him over the phone several times and he admits this duplex has been a pain to sell because the owner is listing it so high. I agree with him, it is way to high of an asking price. What can I offer in the deal that wont break my bank or ruin the deal? How can I appeal to the seller that people aren't going to pay that much for this duplex?

Thanks in advance for all the advice!

[Timothy White]

This ones a long shot however a higher seller financed deal could net them closer to what they want over  time 

or increase down payment. Remove as much  contingencies as you can safely do AND write up an appealing letter with the offer  that could soften the seller 

if it doesnt work at this pijt , it may as rates continue to rise and soften prices

Good luck