What to offer?

[Tracey Williams]

Hi Friends,

I finally close on my first deal this morning and i just can't to say thank you to everyone on this forum.

My agent just email me information about another REO that he has for sales and am trying to figure out what will be the best price to offer

It's a 9unit apartment building (2bedroom-1 bath) 4units are currently rented for $575/months.
The bank is asking for $210,000
The tax is around $7450
It's going to need some repair around $25000
The last buyer paid $450,000 in 2006 and it's currently valued for $286,000 on the auditor's site

My calculation for an offer was coming to $145,000 to $162,000

I will appreacite your contribution on what you will offer for this property,

Thanks

Tracey