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Updated over 7 years ago, 05/06/2017
Hey, making an offer tomorrow, would appreciate BP opinion.
Hey, here is the deal analysis data:
State of CT , duplex, 2200 Sq Ft, 1900, updated vinyl siding, 15 year roof is half way through.
Basic elements are good, foundation is solid, no cracks or visible leaks. Layout is nice and spacious.
1st unit is a 3 bedroom, 2nd unit is a 2 bedroom ( rent estimate by an experienced and investor oriented Real Estate agent is 1100 and 900 correspondingly)
Does not need any major repairs besides new furnace ( and oil to gas conversion) , just some updates, conservative estimate of rehab is 18k for both units ( including 4k for re-winterization)
It is a REO and cash offers only. 30 DOM. ARV is 165, but being very conservative I estimate 150k.
Current price is 90k, after running BP calculator ( both flip and rent as an exit strategy), looks like 80k would make it a good deal. We are offering 77.5 to leave room for negotiation.
What do you think? Big thanks in advance for input!