Need Help with Offer on a Multifamily

[Jason L.]

How much would you offer for a multi-family home that only appraises for $40,268 in Amarillo, TX? (Address 506 S. Florida St. 79106) It's currently occupied and total rent for both sides equals $1080.00; plus it has a lot in the back that is used by a local business for it's customers to park, this could be additional cash flow.

[Henry R.]

Jason, Check your comps in the area and also make sure you find out all of your expenses on the property. it's a good idea to know what property rents for as well and how much you plan on putting into it cash wise. That's my .02 cents