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Updated almost 9 years ago,
Need help with buying a package
I have an opportunity to buy a package of 2 duplexes that are attached. The problem is I only have the capital to buy one. I feel like buying only one I am leaving something in the table.
The question is how can I negotiate a deal to buy both possibly with seller financing? I really want both and I'm not interested in bringing in more equity partners. I would rather buy just one.
If there is no way to buy both is there a way I can put both into contract and flip the second one without it being a conflict of interest?
I don't want to screw up the deal so I'm prepared to just buy one but I want some opinions if there is another way to do it.
Thanks in advance
A bit about the deal
Purchas price-75k each
Rent roll- 4 tenants paying 700 each (below market) probably can bring in 8-900
Taxes-1200 each
Insurance 2000
And I am putting another 1000 into the deal for misc expenses.
Arv is around 150k each will probably need 50k in rehab when tenants leave. They are planing to stay long term. Can get students to rent here.
Thanks for any ideas or opinions or criticism
Heshie