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Updated about 9 years ago on .
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Potential Deal?
Hello Friends
I hope all is well! Their is a bi-level single family house that was forclosed to lender back in April of this year and It is now being sold for $60K:
- - 1846 sqft built in 1956
- - Finished basement; 896 sqft
- - 3 bedroom 2 bathroom
- - Close to a university
NOTE: It was utilized as a two unit prior. Dual furnice and meter. Replacement of roof in 2008 and windows in the year 2000. COMPS sold from Aug to now, 2-3 miles from this home from a range of 70 - 92K. Houses on the same block are worth 70 - 99K. One unit in the same block being rented for ~$900.
Needs work as bathroom, and floor throughout the house needs repair.
I was wondering if this could potentially be a good flip/rehab? Maybe making an offer of 45K, any thoughts? This would be my first deal so I'd love to have a REI business partner who has experience so I can shadow and learn throughout the process.
Thanks,
Nik