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Updated over 12 years ago,
Would you do this deal? I'm on the fence...
This deal is located in So-Cali...well established area. And the market here is extremely hot due to lack of inventory. It breaks most investors rule to purchase at 70%ARV minus repairs. There was cash offers on this property at close to ARV when it went to market. But of course agent wanted to double end it and negotiated it much lower. Here are the specs:
PP: $195k
ARV: $249k
Repairs: $5k-$6k MAX
Newer, large townhome with NO HOAS, well maintained complex. Hot area for seller.
No carrying cost. True all cash.
SHortsale (no deed restriction)
Need unbiased opinion. There is a profit of $25k ++ if all goes well. I just don't buy anything on such a slim margin. Would you do this deal?
Thanks