Oh crap... they didnt counter

[Brandi N.]

OK - here we go...

Was an assisted living facility (my great aunt died there last year :(

The corporation had it listed for $249k - trying to sell it as an assisted living facility shell.

Reduced the listing price to $149k.

I offer $139k this morning. Accepted in a hurry.

It is a 3200 sq ft 3br/3ba that is on .611 acres

Damn - they didnt counter - that pisses me off

10 day option in effect tomorrow around noon.

9am inspection

10am subs show up for bids on closing in 2 car garage for master on one side, divide electrical, full kitchen construction on the other side and upgrade bathrooms

Duplex in the making

Here is the question:

Resale/Lease Purchase Option/Subject to

OR

Rent???

Resale as 2 separate properties gives off $10k each

Rental - Cash ROI = 12%; Total ROI = 18%

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This is the first in a series of investments for this year. Would like to flip 4 properties and acquire 4 properties.

Any outside perspective is very appreciated - Thanks!