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Updated over 9 years ago,
no money down deal or help with creating deal
Hello everyone new to bp. I have a motivated seller owns free clear triplex. She and husband that is soon to pass away. They are asking $53,500 for house went to see it yesterday distressed property needs a lot of work, estimate 40k and the arv will be 150k. Hard to find comps near by for triplex just because there not any in this area but duplex newer in last 10 years go for 128k.
Her is their major issue they have one of the units rented they get 300 month, and they have another tenet moving in 15 of july but that unit needs at least 4k worth of work after last tenet destroyed the place. the last unit need total remake estimate 10k and basement
I was wondering what to offer for property and do lease option, no money down any suggestions on matter greatly appreciated I want it for buy and hold for my portfolio.
I have the money 4k to fix unit and time to do it. But i dont want to put money down just make low payment for property of time until I get finance 3 yrs.
I need help got ideas in head need to put on paper but i know im missing something need all the help i can get to structure profitable deal for me and my family all about legacy building. thank you all and god bless