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Updated about 3 years ago on . Most recent reply

User Stats

37
Posts
11
Votes
Angel Moreno
11
Votes |
37
Posts

Does this sound like a good deal(Off market triplex) ?

Angel Moreno
Posted

I found a distressed tri-plex in Zion Il with a motivated seller. The after repair value is around 190k and seller willing to sell to me for 90k as long as it is a quick and easy sell "without the bank". I'm assuming he wants a cash sale but I believe a hard money lender could help me acquire this property. The estimated repairs are $40k. I don't have any experience I just been reading Real Estate books but this deal fits the 70% - rehab cost rule. 

How can I find financing for this property and be able to do a fast close? 

Most Popular Reply

User Stats

227
Posts
477
Votes
Austin F.
  • Investor
  • Michigan
477
Votes |
227
Posts
Austin F.
  • Investor
  • Michigan
Replied

Make sure you call the city and/or check his registration to make sure you won't run into issues there

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