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Updated over 8 years ago,

User Stats

62
Posts
12
Votes
Aisha E.
  • Architect, Green design/build consultant
  • Fort Worth, TX
12
Votes |
62
Posts

DUPLEX deal analysis help - creative

Aisha E.
  • Architect, Green design/build consultant
  • Fort Worth, TX
Posted
Here is what I have on the table. Duplex, brick construction, vandalized. Each side: 2/1 Area: 1760sq.ft Lot:5000Sq.ft Location: near a major highway and downtown. Warehouses, construction companies, industrial. Street has only 12 houses, of which 2 lots have duplexes. One SFH recently rehabbed House adjacent has sort of shady neighbors House in front: vacant owned by an out of state owner, delinquent property taxes. Rent A: $675 (now vacant) Rent B: $700 (now vacant) Property Tax: $3069 Owner owes: $65k mortgage balance. Repairs required: $22k-$25k ARV:$117K Seller owns other rental properties in the DFW area, but does not want to sell any of those. His minimum asking price is to satisfy the underlying mortgage, and of course wants cash. My exit strategy is to wholesale it. What would be the most creative way to structure this deal with the out of state owner?

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