SFH in great neighborhood. Discount for landlord. Flip might work

[Tuan L.]

We have a solid lead in Roseville, CA 95661 near Johnson Ranch. It is a SFH in great school district (9/10 ratings). 2067 sq ft built in 1995 in quiet neighborhood that has 3 beds 2 baths plus a den which is currently used as a bedroom. The house is well kept with new interior paint and carpet. All flooring is in good shape and less than one year old. There is a nice, well-kept pool and spa in back yard. Tile countertop is in the kitchen and bathrooms.

Purchase price including fees: $362K OBO plus buyer pays all closing cost (estimated of $8-$10K). Seller wants $6K deposit.

Repair is estimated to be $20K-$30K depending on your exit strategy. Repair includes roof replacement, garage door frame repair, minor leak one spot of the ceiling, AC and water heater replacement (both are still functioning but old), clean up inside and water pressure outside. Appliances are in good condition but can be upgraded to stainless steel if wanted.)

ARV: $445K - $465K with CMA

Situation: there is a family living in the house and they are paying $2500/month on month-to-month lease. Seller doesn't want to sign contract until we have a solid buyer as seller wants to know what buyer plans to do with tenant. This deal is only suitable for 2 situations:
- Buyer is a landlord who has cash and wants to get big discount on purchase price. Buyer can probably increase price once roof is replaced and sign new contract.
- Flipper who has cash and real estate license or do FSBO. The deal probably isn't good for flipper who needs to borrow money and pay commission.

DO NOT DISTURB TENANTS. Seller has made clear that. There is no showing for the house at the moment either. We may be able to set up viewing for a final serious buyer. We are open to joint ventures as long as the deal makes sense. Serious buyer with POF only. Please send emails to [email protected] for the investor package.

Thank you.