Just submitted my first offer!!

[Craig Shute]

I just submitted my first offer!! I'm very excited and scared of course. I'm 25 years old and my primary residence is the only real estate I own personally. The subject property is 2 houses on 1 lot: 1 is a 1-bedroom and the other has 2 1-bedroom units. Fully rented. Gross rent of $1550 a month, cash flows approx $500/mo AFTER repairs, reserves, vacancy, and p&i. Repairs needed are minor, except the driveway. It's on the MLS; seller was asking 70k which is the assessed value, I just offered 40k, waived home inspection, radon, etc. Seller has owned it for 30 years, just did a bunch of upgrades and repairs and looking to cash out due to poor health and age. We'll see what he says!!