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.
Buying & Selling Real Estate
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 about 9 years ago on .

User Stats

5
Posts
0
Votes
Nikaury Bruno
  • Ann Arbor, MI
0
Votes |
5
Posts

Potential Deal?

Nikaury Bruno
  • Ann Arbor, MI
Posted

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:

  1. - 1846 sqft built in 1956 
  2. - Finished basement; 896 sqft
  3. - 3 bedroom 2 bathroom
  4. - 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