Investor · Baltimore, MD · Member since 2015 · 71 posts · 24 votes
Hello everyone
I just wanted to get some insight on a offer I'm about to pitch a homeowner
2000 blk of Pulaski ST Baltimore me 21217
The owner is interested in selling to me , she currently has a tenant but they are month to month so I'm assuming the house is livable since they have been there for so long but she's ready to get out the home. There is only one vacant house (boarded up) on the block it's a nice block (by west Baltimore standards) the home is owned free and clear the home is assessed with the state at 23k
What I'm thinking of offering her is
11k to max 13k with the intent to wholesale the deal if the numbers and the condition of the property is decent
Or 17.5 with terms to my llc. 5 years , 60 payments , 5% down and 3 % percent interest paid to the seller
The monthly payment to the seller would be 423.73
And I would rent the property out and collecting the spread until the note is paid in full
Does this sound like a good deal what would you tweak
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
10y
If you are going to rent it out at all you need to make sure it has a lead certificate, you can contact MDE to check. You didn't mention how much the rent is.
Just because someone is living there doesn't mean it is "Livable" So much of the price depends on the condition. The price is within the range of normal for that area. Whether is is a good deal or bad deal depends on the condition.