Grand Rapids multiplex under contract

[Catherine Lacey]

Hi All - We're currently under contract to purchase a multifamily home in Grand Rapids. Inspection is Monday and closing is set for the 15th, though with the flood of mortgage/refinance applications I was just informed the appraisal can't even take place for at least 30 days. (I hope the sellers don't balk about having to extend the closing date).

In any case, its a great deal and the cash flow is excellent. My mortgage plus escrow is going to be $1,300 and current rents are at $2,650. However, it needs some updating, a new roof, and I'm worried about the "seepage" issue into the basement. I cannot join the inspector due to COVID-19 new rules, but he said he'll take videos and call us afterward. 

Any thoughts? How much would a seller in this market be willing to help fix inspection issues, whether small or big given current economic conditions? Appreciate any input from those of you with more experience. 

Catherine