How Would you Approach This Deal?

[Jon Carcone]

Hey Guys,

I was hoping you could give me some guidance on how to approach a potential deal.

The seller is asking 430,000 for a SFH and the gross rent is 3500/mo-- utilities and non-cap expenses (up to about $200) are paid by the tenants which, in this case, are college students.

He owes about 60k still on this as he has owned this for a number of years. He is willing to carry some of the financing.

If you'd go after a proeprty like this at all, how would you structure a deal in terms of offer price and the right a combination of owner and bank financing to make this work?

thanks for any insight,
jon