Need Your Advice ASAP, Kansas City

[Logan Freeman]

Heres the deal: I have been working on acquiring a multifamily unit to live in one side and rent out the other in the Kansas City Metro Area. I have been in negotiation with the seller of a duplex and sent over my final offer. Here is the final counter offer and I would like to see if you experienced verterans believe it is a solid deal at this price point. The duplex is in independence missouri so if you are experienced in this market, i would love your opinion. My final offer was 95k with the seller providing a home warranty and covering closing costs. This is the counter:

The seller just got back with me and this is what he can do -- He currently has a First American Home Warranty basic plan on both units. They will allow him to extend that plan to a new owner for $560 so the seller will pay that for one year. $1,100 in closing costs only. $96,000 sale price. The property will be sold as is. The buyer can do all inspections but seller will repair nothing.

133 e. elm street independence mo

Purchase price: 96k

NOI: 1200

Cash flow: 680

Cap Rate: 13.4

Comps: 95k

I am looking a this as if I would be renting both units, even though I will be occupying one of them.

Your help is greatly appreciated!

[Engelo Rumora]

@Logan Freeman

Hi Logan,

I don't know Independence that well as it was not a target area for our group but do know enough to say that you can get a deal with much better numbers than you quoted.

Be patient and the right deal will come along.

Thanks and have a great day.