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Updated over 9 years ago,
I have a potential deal and don't know what to do
I have a potential deal that I am confused on what to do. I won a bid on a property on HUD at 69% discount at $70k, the Market value is $110k, and MLS has it for $105k the property needs about $5k in rehab just light work. Carpets patches on the walls and some appliances. I was going to buy this property and offer it to a cash buyer on my list of buyers around $80k.
My question is would you think the numbers are to tight or is there money to be made on both sides? Or would you simple pass on this offer?