How's negotiate this deal..

[Carlos Rodrigues]

Good afternoon BP, I hope you're all doing great!! Okay so I found this possible deal here in Elizabeth NJ. Multi with 2 units and finished basement, 3 separate electric meters. Also two car garage and drive for 2 cars. Cons, no backyard, and 2nd floor kitchen small and unfinished ($2k- 3k to finish). Basement and 2nd floor no gas, all electric. Property is completely vacant. Found a note on the kitchen counter saying gas leak found. Monthly Rents: Unit 1: $1,200- $1,300 Unit 2: $1,000- $1,150 Basement: $850- $950 2 car garage with loft- $400 Property Cost Asking $275,000 Year taxes $10,500 The seller is a invested herself and she's getting rid of this property and keeping her other luxury properties. Now dealing with such an experienced seller/ investor how can I negotiate this property? Thank you in advance!!

[Account Closed]

I think is too much for a buy and hold property in Elizabeth city. I been on the lookout for Newark and Elizabeth city. With $225k you could find others at much lower rate but need some work with plenty of equity.

But if you say that property is AVR at $350k and up then crab it, but if not then go to the auction and buy yourself 2 for that amount.