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Updated almost 8 years ago,
Good dilemma. Investor made offer in my BRRR property
Hi guys,
I just recently bought a property a few months ago that I was planning on BRRR. I had actually just placed the place on Craigslist for rent today.
Anyways, I received a letter from a potential buyer. Intrigued, I emailed back and it was some legitimate agent from a well known RE company that represents "investors."
He made an offer of $400k on my place and even offered a $15k earnest money to be released after one month.
Numbers:
Value of property at time of purchase: $315k
Loan: $250k
Rehab cost: $25k
All in: ~$95k
Any thoughts and advice would be appreciated.