General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 8 years ago,
What terms can I give to make this a good deal?
Considering this deal. As it is the terms and selling price are not beneficial to me the buyer to buy and hold. The real estate agent asked me to send my terms that she would forward to the buyer for his consideration. Curious if I can turn this triplex into a good deal
Address: Indianapolis, IN, 46201
Neighborhood sounds like a C (based off agent's opinion)
Asking price $59,900 (Seller Finance is an option – 5 years to pay off, considering 10% down payment)
Annual Taxes $1656
Unit 1: 2/1 rents for $450 (Pays on time – like clockwork – same day/same time) Tenants for 2 years
Unit 2: 2/1 rents for $500 (larger unit than unit 1) VACANT since Aug.
Unit 3: 1/1 rents for $400 (Pays on time – like clockwork – same day/same time) Tenants for 2 years
Tenants pay all utilities and are currently month-to-month
Rent-o-meter comps are over $600/month for a 2/1.
Cosmetic repairs needed. Seller is fixing up the vacant unit
House built in 1911
No Garage
Out of state owner. Uses property management company